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Discover all the payments and fintech-related news and analysis about Saudi Arabia in The Paypers News, Reports, along with other Saudi Arabia-specific insights on the payments and fintech industry:

Discover all the payments and fintech-related news and analysis about Saudi Arabia in The Paypers News, Reports, along with other

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Spotii expands to Saudi Arabia

News | Ecommerce | 16 Nov 2020

Spotii, a UAE-based payment service for retailers, now offers a buy-now-pay-later option to online shoppers in Saudi Arabia. 

Spotii, UAE, Saudi Arabia, expansion, buy-now-pay-later, retailers, merchants

Saudi Arabia shifts towards ecommerce and digital transactions, reveals report

News | Online Payments | 18 Aug 2020

Oxford Business Group (OBG) has released, in partnership with Saudi Payments, a report that reveals a shift towards ecommerce and digital transactions in the Kingdom.

Oxford Business Group, OBG, Saudi Payments, report, ecommerce, digital transactions, Saudi Arabia, COVID-19 Response Report, CRR, COVID-19, purchasing behaviour, fintech, Saudi Arabia Monetary Authority, SAMA

Nisbah Capital joins Tezos blockchain ecosystem

News | Cryptocurrencies | 07 Jan 2021

Saudi Arabia-based Nisbah Capital, the blockchain subsidiary of Taibah Valley has announced the entrance to the Tezos ecosystem as a corporate baker, according to the official press release.

Nisbah Capital, Tezos, Saudi Arabia, blockchain, ecosystem, Taibah Valley, Exaion, EDF, corporate baker, baker, decentralisation, MENA, MEA

Sberbank structures rade finance deal with International Islamic Trade Finance Corporation

News | E-invoicing, SCF & E-procurement | 05 Aug 2020

Sberbank has structured a trade finance deal with the International Islamic Trade Finance Corporation (ITFC), a provider of Trade Solutions.

Sberbank, trade finance, International Islamic Trade Finance Corporation, ITFC, Trade Solution, banks, Switzerland, Russia, Egypt

BNPL platform Tamara raises USD 110 mln in Series A round led by Checkout.com

News | Ecommerce | 26 Apr 2021

Saudi Arabia-based buy-now-pay-later (BNPL) platform Tamara has raised USD 110 million in a Series A round led by global payment processor Checkout.com.

BNPL, ecommerce, funding

Tweeq selects IDEMIA for payment cards

News | Cards | 28 Oct 2021

Saudi Arabia-based money management company Tweeq has chosen France-based augmented Identity company IDEMIA for card issuance and personalisation services.

credit card, debit card, IDEMIA, partnership, fintech, digital payments

Saudi Arabia ministry to refer 200 e-stores to the Ecommerce Violations Committee

News | Ecommerce | 06 Jun 2022

The Saudi commerce ministry has referred 200 online stores to the E-commerce Violations Committee in the country to impose legal penalties for violating compliance standards.

ecommerce, ecommerce platform, digital payments, online payments, payment methods, local payment method, regulation, compliance

Western Union to acquire a minority stake in Saudi Digital Payments Company

News | Online Payments | 23 Nov 2020

Western Union has entered into a definitive agreement to acquire a minority stake in Saudi Digital Payments Company, or stc pay, a fully owned subsidiary of Saudi Telecom Company. 

acquisition, Western Union, STC Pay, digital wallet, cross-border payments, remittance

Noon waives set-up fees for SMEs during Ramadan

News | Online Payments | 26 Apr 2021

Digital marketplace Noon has announced waiving set-up fees for noon payments during the Holy Month of Ramadan.

online payments, SMEs, loyalty programme, marketplace

Thales to develop smart city technology for Saudi Arabia

News | Digital Identity, Security & Online Fraud | 13 Dec 2021

France-based technology company Thales has signed a MoU with stc (Saudi Telecom Company) to collaborate on a broad range of technologies, including e-SIMs and smart cities.

digital identity, cybersecurity, mobile payments, biometrics, digitalisation, partnership

Saudi Central Bank licenses Mobil Pay for finance and payments

News | Payments General | 29 Mar 2022

The Saudi Central Bank (SAMA) has announced the licensing of a new company, Mobil Pay, for financing and electronic payments.

Saudi Central Bank, certification, regulation, financial inclusion, digital wallet

SAMA bans banks from opening accounts for suspicious parties

News | Digital Identity, Security & Online Fraud | 07 Feb 2022

The Saudi Central Bank (SAMA) has banned Saudi local banks from allowing the opening of accounts by entities that are involved in illegal operations.

central bank, regulation, money laundering, KYC

MoneyGram, Al Rajhi Bank to support the cross-border payments market in Saudi Arabia

News | Payments General | 08 Jun 2020

MoneyGram has partnered with Al Rajhi Bank, a large Islamic bank, and Tahweel Al Rajhi, the remittances arm of Al Rajhi Bank, to provide money transfer services in Saudi Arabia.

MoneyGram, Al Rajhi Bank, cross-border payments, Saudi Arabia, remittances, money transfers, mobile payments, partnership

Dubai International Financial Center invests in four startups

News | Payments General | 11 Jun 2020

Dubai International Financial Center has invested in four startups through its USD 100 million Fintech Fund.

Dubai, Dubai International Financial Center, fintech, startups, FlexxPay, rise, Now Meny, Sarwa, fintech fund, Middle East, Africa, South Asia, financial

MoneyGram partners with Mobily Pay to reach e-Wallet users in Saudi Arabia

News | Mobile Payments | 03 Jun 2022

MoneyGram has launched its money transfer capabilities on mobile wallet Mobily Pay to enable people in Saudi Arabia to send money in near real time.

money transfer, remittance, digital wallet, partnership, digitalisation, API

Saudi Central Bank launches instant payment system

News | Online Payments | 22 Feb 2021

The Saudi Central Bank (SAMA) has launched the ‘sarie’ instant payment system.

Saudi Central Bank, SAMA, Sudi Arabia, instant payments, financial inclusion, sarie, online payments

COVID-19 impact on Saudi Arabian banks might last up to nine months – KPMG study

News | E-invoicing, SCF & E-procurement | 28 Apr 2020

A report released by KPMG Saudi Arabia has revealed the impact COVID-19 has on the banking sector and the potential countermeasures to cope with the new normal.

bank, digital transformation, COVID-19, coronavirus, KPMG, report, banking, SMEs, retail banking, credit card, mortgage, liquidity, cyber risk, SAMA

STC Pay, Thales join forces for contactless card payments

News | Cards | 15 Feb 2021

The Saudi Telecom Company (STC) mobile wallet app STC Pay has teamed up with France-based technology provider Thales to introduce contactless cards into the Kingdom of Saudi Arabia.

STC Pay, Thales, partnership, contactless payments, card payments, mobile wallet, POS, ATM, ecommerce, withdrawals, Saudi Arabia

Saudi Payments Network welcomes Neo Leap to operate in Saudi Arabia

News | Online Payments | 03 Nov 2021

Saudi Payments (Mada), which operates under the supervision of the Saudi Central Bank, has granted permission to fintech Neo Leap to handle transactions through its payment system.

partnership, payment processing, online payments, payment gateway, e-wallet

Tweeq joince forces with Mastercard and Paymentology for first-class consumer experience

News | Online Payments | 22 Feb 2021

Tweeq has signed exclusive partnership agreements with Mastercard and Paymentology, a digital commerce service and payment solution provider.

Tweeq, partnership, MasterCard, Paymentology, online payments, digital payments, cards