Saudi Central Bank Integrates Alipay+ to Advance Digital Payment Goals
Riyadh, Thursday, 17 September 2026.
At Money20/20 Middle East in Riyadh, the Saudi Central Bank enabled Alipay+ payments nationwide, advancing its Vision 2030 goal to build a modern, cashless retail ecosystem.
Strategic Payment Expansions Announced
At the Money20/20 Middle East conference in Riyadh, the Saudi Central Bank (SAMA) confirmed significant advancements in the Kingdom’s digital payments infrastructure. On 16 September 2026, the central bank disclosed the acceptance of Alipay+ across payment networks and outlined plans to introduce Apple’s Tap to Pay on iPhone nationwide [1]. Concurrently, reports indicated an upcoming rollout of Google Pay across Saudi Arabia, signaling a broader push to diversify digital wallet options for consumers [3]. These agreements were formalized during the event, with SAMA and Ant International signing an agreement to enable Alipay+ payment acceptance through the National Payment System (mada) by the end of 2026 [2]. This move allows visitors and users of global digital payment wallets linked to Alipay+ to make secure payments in stores providing the service [2].
Aligning With Vision 2030
These initiatives are aimed at accelerating Saudi Arabia’s transition toward a cashless society under its Vision 2030 financial sector development strategy [1]. SAMA’s engagement with payment service providers reflects its commitment to developing a robust digital payment infrastructure that enables the transition toward a less cash-dependent society [2]. The central bank emphasizes that stability and innovation are complementary, with a strong financial system providing the foundation for sustainable value [1]. By authorizing advanced digital payment solutions that comply with international standards, the Kingdom strengthens its position as a leading country in FinTech solutions worldwide [2]. The strategy also offers multinational retail and fintech firms greater access to the growing Saudi consumer market [1].
Surging Digital Transaction Volumes
The push for digital adoption builds upon substantial recent growth in the sector. Electronic payments accounted for 79% of total retail payments in 2024, with total electronic transaction volume reaching 12.6 billion in 2024, up from 10.8 billion in 2023 [3]. This represents a significant year-over-year increase calculated as 16.667 [3]. The number of fintech companies in Saudi Arabia grew from 82 at the end of 2022 to approximately 281 by 31 August 2026, attracting cumulative investments of approximately SR9 billion [3]. SAMA Governor Ayman Al-Sayari noted that the sector has experienced a remarkable threefold expansion, cementing its status as one of the most attractive sectors for investors [3].
Money20/20 Middle East Conclusions
The announcements concluded the three-day Money20/20 Middle East event, which ended on 16 September 2026 in Riyadh [1]. The conference featured 451 brands, 450 speakers, and 1,051 investors, highlighting the region’s growing influence in financial technology [3]. Nora M. Albakr, Deputy Governor for Financial Innovation at SAMA, delivered an opening keynote on Day 3, shaping the conversation around the future of money [4]. The event awarded USD 400,000 in total prizes across three categories, with Tanami winning Best in Show [1]. The third edition of Money20/20 Middle East is scheduled for 14–16 September 2027 at the Riyadh Exhibition & Convention Centre [1].