X^2 is the simplest, fastest way for merchants to accept lower-cost, friction less Account-to-account (A2A) payments.

Use Cases


Accept faster, lower cost e-commerce payments

There are no trade-offs with open banking payments. While card and wallet payments are instant, they carry high (and ever-increasing) fees for merchants. Invoicing and accepting bank transfers are lower cost, but significantly increase reconciliation effort and abandonment rates. With open banking payments, merchants benefit from faster, fairer, frictionless payments and a 2-20x reduction in payment costs.

Accept bill payments for lower fees

For the 40% of direct billing customers who prefer to pay bills on demand, rather than by scheduled card payments, merchants can eliminate card interchange fees and improve cash flow by accepting instant bank payments with X^2 Payments

Access financial data to build new lending and loyalty programmes

With access to seamlessly aggregated bank account and transaction data from banks across Saudi Arabia, merchants can blend API-based payments and data to build innovative new products and services. For example, X^2 Data enables merchants to access real-time transactional data to identify behavioural patterns and develop critical customer insights. Armed with deeper data, merchants can identify loyal customers, trigger personalised lending or sales offers atthe point of sale, or build value-added programmes.