Pay10 and First Abu Dhabi Bank announce Open Finance go live under Al Tareq scheme

01/01/2026 03:51 AST

Pay10 and First Abu Dhabi Bank (FAB) have gone live on Open Finance for its retail customers in the UAE, marking a key milestone in the UAE's Open Finance journey under the Central Bank of the UAE's Open Finance Initiative, AlTareq.

FAB is one of the first banks to launch Open Banking to customers in the UAE and has enabled selected retail current and savings accounts to connect via Open Finance, allowing secure access to Pay by Bank payment initiation and related use cases. As part of this go live phase, Pay10 and FAB have successfully completed live transactions on the production environment, confirming end to end connectivity, data flows, and operational readiness.

This milestone represents the transition from testing to controlled live usage. This phase allows Pay10 and FAB to validate real customer journeys, transactions, and operational flows ahead of broader customer rollout.

Nebras, operating under the oversight of the Central Bank of the UAE, has enabled both FAB and Pay10 on its Open Finance platform. This confirms that all required connectivity, governance, and control standards are in place for participating institutions.

With this activation, Pay10 can support Open Finance use cases in a live production environment while meeting all regulatory and operational expectations of the Central Bank of the UAE. FAB continues to play an active role in advancing Open Finance adoption in the UAE, supporting the Central Bank of the UAE's vision for secure, data-driven financial services. As one of the first banks enabled under Al Tareq, FAB is helping to establishthe foundations of Open Finance in the UAE. FAB's participation in this phase under Al Tareq reflects the bank's commitment to secure data sharing, collaborative innovation with the Central Bank of the UAE, Nebras and Pay10, and the delivery of more seamless digital payment journeys for its customers.

Pay10 and FAB will now focus on expanding use cases, validating performance at scale, and preparing for wider customer availability in line with the UAE's Open Finance vision for Al Tareq.

Harry Gill, Founder and Chairman of Pay10, said: "At Pay10, our focus is on translating regulated frameworks into real, scalable solutions. This go live with First Abu Dhabi Bank represents a meaningful step in enabling secure data access, interoperable payment use cases, and alternative payment innovation at scale. It reflects a market that values execution, trust, and collaboration; principles that align closely with the UAE leadership's vision for a resilient and forward-looking digital financial ecosystem."

Khaleej Times