Google Pay, China’s Alipay+ launch in Saudi Arabia amid cashless push
Both payment platforms will use mada, the kingdom’s national payment system.
Google Pay and China’s Alipay+ will be rolled out across Saudi Arabia, the kingdom’s central bank announced Monday, in a boost to the region's growing fintech market.
The central bank, SAMA, said at the Money20/20 Middle East fintech event in Riyadh that it had signed agreements with both online payment systems.
A statement from the central bank said that both companies will use mada, the kingdom’s national payment system.
“The launch of the Google Pay service is part of a series of market infrastructure enablement initiatives designed to meet Saudi market needs and streamline the digital payment experience — thereby reinforcing Saudi Arabia’s position as a global pioneer in fintech solutions,” the statement added.
