Money20/20 Middle East concluded in Riyadh with Saudi Arabia’s central bank announcing new payment capabilities, while investors and fintech companies unveiled fresh initiatives across the Kingdom’s financial ecosystem.
The Saudi Central Bank (SAMA) said Alipay+ payment acceptance will be enabled in Saudi Arabia, allowing international visitors to pay with their existing digital wallets. SAMA also announced plans to enable Apple’s Tap to Pay on iPhone, allowing merchants to accept contactless payments directly through an iPhone.
Investment announcements included a partnership between Saudi Shariah-compliant debt crowdfunding marketplace Lendo and Vienna-based Quantic Financial Solutions. The agreement includes an institutional capital programme of up to SAR 750M for working capital financing for small and medium-sized enterprises.
European venture capital firm Speedinvest also announced a SAR 15M investment in Abwab.ai, an AI-powered credit intelligence and underwriting platform. The deal marks Speedinvest’s first investment in Saudi Arabia, according to the announcement.
The event’s MoneySurge competition named Saudi company Tanami its Best in Show winner, awarding it $200K. Hong Kong-based Planto and Nigerian fintech Nearpays each received $100K under the Fintech to Watch and Fintech for Good categories.
Money20/20 Middle East will return to Riyadh Exhibition & Convention Centre in Malham from September 14 to 16, 2027.
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Source: EntArabi
