Saudi central bank expands digital payments plans at Money20/20 Middle East

Saudi Arabia’s central bank used the final day of Money20/20 Middle East in Riyadh to announce Alipay+ acceptance and plans for Tap to Pay on iPhone, while also spotlighting new fintech investments and competition winners. The moves add fresh momentum to the Kingdom’s push to scale its payments ecosystem and attract global fintech capital.

Why it matters: - Saudi Arabia is broadening its payments infrastructure for local merchants and international visitors. - The announcements also signal continued regulator support for fintech innovation, which matters for Saudi Vision 2030 and the Kingdom’s push to deepen financial services. - New capital commitments and startup wins show that global investors and founders still see Saudi Arabia as a growth market.

What happened: - Money20/20 Middle East closed in Riyadh after three days of sessions focused on payments, digital assets and artificial intelligence. - Saudi Central Bank Deputy Governor for Financial Innovation Nora M. Albakr opened the final day with a keynote on responsible innovation and the future of Saudi Arabia’s financial ecosystem. - Saudi Central Bank announced the enablement of Alipay+ payment acceptance in Saudi Arabia. - Saudi Central Bank also said it plans to enable Apple’s Tap to Pay on iPhone in the Kingdom. - Lendo announced a partnership with Quantic Financial Solutions for an institutional capital programme of up to SAR 750 million. - Speedinvest announced a SAR 15 million investment in Abwab.ai. - MoneySurge ended with Planto, Nearpays and Tanami taking the top awards. - Money20/20 Middle East will return to Riyadh Exhibition & Convention Centre in Malham from 14-16 September 2027. - More information is available at the event website.

The details: - Albakr said SAMA’s approach to new financial technologies is to test first and expand only after evidence supports wider adoption. - She said stability and innovation work together, with a resilient financial system providing the base for long-term value. - SAMA highlighted its regulatory sandbox testing of supply chain finance solutions and the move toward licensing. - Supply chain finance activity has since exceeded SAR 1.4 billion. - The Alipay+ rollout will let international visitors pay in Saudi Arabia using their existing digital wallets. - Tap to Pay on iPhone will let merchants accept contactless payments directly on iPhone. - Quantic Financial Solutions, headquartered in Vienna, will dedicate its capital programme to working capital financing for SMEs in Saudi Arabia. - Speedinvest said its investment in Abwab.ai is its first in Saudi Arabia. - Abwab.ai provides AI-powered credit intelligence and underwriting automation. - Planto won the “Fintech to Watch” award and USD 100,000 after a final presentation round and judging panel review. - Planto provides cash flow insights, customer segmentation and wealth analytics for financial institutions. - Nearpays won the “Fintech for Good” honour and USD 100,000. - Nearpays offers virtual accounts, virtual dollar cards and smartphone-based virtual PO. - Tanami won “Best in Show” and USD 200,000. - Tanami is a Shariah-compliant private markets investment platform.

Between the lines: - The final-day announcements point to a two-track strategy: build payment rails that support everyday commerce while also pulling in foreign capital for fintech growth. - SAMA’s emphasis on testing, oversight and human accountability suggests the regulator wants innovation to scale without weakening financial stability. - The event’s focus on payments, AI and always-on markets shows where Saudi Arabia expects the next wave of financial services competition to land. - The startup awards also suggest the ecosystem is being shaped not only by large institutions but by early-stage companies that can plug into the Kingdom’s long-term digital finance agenda.

What’s next: - Saudi merchants and consumers should see broader payment acceptance options as Alipay+ and Tap to Pay on iPhone move forward. - Lendo’s capital programme and Speedinvest’s investment could help expand SME financing and AI-driven credit tools in Saudi Arabia. - The next major checkpoint for the market is Money20/20 Middle East 2027, where industry players will likely assess how much of these announcements have translated into live adoption and commercial scale.

The bottom line: - Saudi Arabia is using regulation, partnerships and capital to push its payments market toward broader international acceptance and faster fintech adoption.