Saudi digital payments are entering a new phase as Google Pay prepares to launch across the Kingdom. Moreover, the Saudi Central Bank, known as SAMA, announced the rollout during the Money20/20 Middle East conference in Riyadh. Officials emphasized that this step not only strengthens the country’s rapidly growing fintech ecosystem but also aligns closely with Vision 2030 objectives.
Furthermore, the new service will allow users to add mada and credit cards to Google Wallet, thereby creating a secure and efficient way to pay. According to SAMA, the launch forms part of broader efforts to upgrade payment infrastructure and, in turn, meet the evolving needs of local consumers. Leaders also believe that it reinforces Saudi Arabia’s role as an innovator in financial technology.
At the same event, SAMA also signed an agreement with Ant International to enable Alipay+ acceptance by 2026. As a result, the partnership will integrate Alipay+ with the national payment network, Mada, thus allowing visitors to use global wallets at retail outlets across the Kingdom. Authorities expect this initiative to improve cross-border transactions and enhance convenience for travelers.
During his remarks, Governor Ayman Al-Sayari addressed delegates and highlighted remarkable growth within the Kingdom’s fintech landscape. Notably, he reported an increase from 82 fintech firms at the end of 2022 to about 281 by August 2025. He revealed that cumulative investment in the sector has now reached roughly SR9 billion, thereby underscoring its strong appeal to global investors.
Al-Sayari went on to emphasize that payment services stand at the heart of this success. Specifically, electronic transactions accounted for 79 percent of retail payments in 2024, compared with prior years. Total payments grew to 12.6 billion in 2024, rising from 10.8 billion in 2023. He stated that this expansion reflects both ambition and the capacity to solve industry challenges through innovation.
Finance Minister Mohammed Al-Jadaan added that the Kingdom’s financial market is now valued at more than SR2.4 trillion. Additionally, he noted that ongoing projects aim to integrate artificial intelligence tools into financial services. This effort positions Saudi Arabia at the forefront of modern banking solutions.
Looking ahead, industry observers expect Saudi digital payments to grow as regulators promote cashless initiatives. Private firms are adopting advanced technologies. With Google Pay entering the market and Alipay+ integration approaching, consumers and merchants will enjoy faster, more inclusive services. Ultimately, these developments highlight the country’s firm commitment to building a resilient, technology-driven financial sector.
