Google Pay will be implemented throughout Saudi Arabia, the Kingdom's central bank stated during the Money20/20 Middle East event. The bank, also known as SAMA, has reached an agreement with Ant International to accept Alipay+ payments by 2026.
According to a release, both enterprises would use the Kingdom's National Payment System (mada). These advances are consistent with Saudi Arabia's Vision 2030 goals of boosting the digital economy, expanding financial inclusion, and increasing the share of cashless transactions to 70% by 2025. They also complement SAMA's ongoing efforts to develop Saudi Arabia's digital payment ecosystem, as well as the Financial Sector Development Program's aims, which are a key component of Saudi Vision 2030.
Visitors to Saudi Arabia using international digital wallets linked to Alipay+ will be able to conduct secure and advanced transactions at retail outlets that provide the service.
Accepting Alipay+ payments is one of several initiatives aimed at meeting the needs of the Saudi market while also reinforcing the Kingdom's position as a global leader in fintech and digital payment solutions.
