The platform is designed to fully digitalise the payment processes for one million travelers, particularly from Asia, with a projected economic impact of USD 3.2 billion in Saudi Arabia by 2026.
Following successful collaborations with different Saudi Arabian government agencies, including the Saudi Tourism Authority, BuzzPay is positioned as a key technology in the hospitality sector. The platform simplifies the payment process, allowing users to book travel services and make payments directly through BuzzPay, all while receiving personalised travel recommendations from BAE.
BuzzAR’s mixed-reality solutions have already gained traction in the travel industry, with partnerships across different regions and government entities, including the Singapore Land Authority and Saudi Tourism Authority. The company’s commitment to leveraging AI in the travel sector is underscored by the launch of BAE, the world’s first AI travel companion, earlier in 2024.
The platform’s expansion is part of BuzzAR’s broader strategy to transform the travel industry by combining AI, mixed reality, and fintech. In addition to improving payment capabilities, BuzzAR is developing BAE into a comprehensive digital platform that connects travelers with hospitality service providers. As Saudi Arabia aims to attract 150 million tourists by 2030, BAE aims to empower tour guides by allowing them to create AI-driven digital twins on the platform, enabling them to transact and earn revenue through the service.
The launch of BuzzPay aligns with Saudi Arabia's Vision 2030, which seeks to diversify the nation's economy by expanding its tourism sector. As part of this initiative, the kingdom aims to attract 150 million tourists annually by 2030, a significant increase from the 16 million visitors recorded in 2019. To achieve this goal, Saudi Arabia is investing heavily in modernising tourism infrastructure, including the development of smart cities, digital platforms, and innovative technologies designed to improve the traveler experience. BuzzPay, with its cross-border payment system and AI-driven features, is strategically positioned to support these efforts by facilitating frictionless transactions for international travelers, particularly from Asia, and contributing to the growth of the tourism economy.
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