Alipay Plus Set to Debut in Saudi Arabia, Streamlining Cross-Border Mobile Transactions for Local Businesses
Ant International, a global leader in digital payments, has taken a significant step forward in its expansion into the Middle East by opening its first office in Riyadh, Saudi Arabia. This move is part of a broader collaboration aimed at driving digitization and inclusive growth for local merchants in the Kingdom.
The partnership between Ant International and the Saudi Central Bank (SAMA) is set to launch cross-border QR code payments between Saudi Arabia's national payment scheme mada and Ant International's Alipay+ in 2026. This initiative, announced by Douglas Feagin, President of Ant International, supports Saudi Arabia's Vision 2030 goals and enhances payment connectivity.
Vision 2030, introduced in 2016, aims to transform Saudi Arabia's economy, focusing on innovation, sustainability, digital payments, and tourism. One of the goals of Vision 2030 is to create new growth and job opportunities through tourism. In 2024, Saudi Arabia ranked first globally in tourism revenue growth and surpassed 100 million domestic and international tourists, ahead of schedule.
Through this partnership, local Saudi Arabian merchants, including Small and Medium Enterprises (SMEs), will be able to accept cross-border QR payments from Alipay+ international payment partners. Alipay+ is already integrated with national payment schemes in several countries such as Singapore, Malaysia, South Korea, Cambodia, Nepal, Sri Lanka, and now Saudi Arabia.
Antom, a unified merchant payment solution by Ant International, has received a PTSP certificate from SAMA, further strengthening Ant International's presence and commitment to Saudi Arabia. This collaboration is expected to connect over 1.7 billion user accounts across 36 partners to more than 100 million merchants in 70 markets.
The Saudi Arabian government has set a target of 70 percent non-cash transactions for 2030. This initiative is expected to significantly contribute towards achieving this goal, making digital payments more accessible and convenient for both merchants and consumers in the Kingdom.
While the name of the Ant International representative who announced the collaboration with the Saudi Central Bank for the introduction of QR code payments between the national payment scheme Saudi mada and Ant International’s Alipay+ gateway by 2026 was not explicitly provided, the announcement marks a significant step forward in Ant International's global expansion and commitment to digital payments.
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