Alipay+ to Enable Cross-Border Mobile Payments for Saudi Arabia Merchants
Alipay+ to launch cross-border mobile payments in Saudi Arabia, as the Saudi Central Bank (SAMA) partners with Ant International to enable QR-code payments between Alipay+ global wallets and Saudi Arabia’s national payments scheme, mada. The rollout, expected in 2026, aims to empower local merchants with secure, international payment acceptance.
What’s happening & Why It Matters
Local merchants in Saudi Arabia, including small and medium-sized enterprises (SMEs), will be able to accept cross-border QR payments from international Alipay+ partners. This initiative is part of a broader push under Saudi Vision 2030 to strengthen digital payments infrastructure, promote tourism, and increase inclusivity in financial services.
The collaboration builds on Ant International’s track record: connecting more than 1.7 billion user accounts across over 36 partner wallets, and working with over 100 million merchants in 70+ markets globally.
Key Benefits and Opportunities
-
For merchants: Enhanced access to international customers and tourists, providing more ways to receive payments and increasing potential revenues.
-
Payment experience: QR code payments are generally fast, low friction, and mobile-friendly, which can improve customer satisfaction.
-
Economic alignment: Supports government ambition to move away from cash, meet non-cash transaction targets, and boost Saudi Arabia’s standing as a fintech and tourism hub.
What to Watch For
-
Rollout timeline & merchant readiness: Though the agreement is in place, implementation (e.g. POS upgrades, merchant onboarding) may be gradual.
-
Regulatory compliance & security: Ensuring that cross-border payments maintain appropriate security, anti-fraud controls, and consumer protection.
-
Interoperability & usability: The ease with which merchants can integrate QR payment solutions with their existing systems will be crucial.
FinTech News shares the latest trends and insights on fintech, digital banking, payments, AI in finance, and spend management.
Read related news - https://financetech-news.com/cardo-ai-partners-with-multitude-bank-to-asset-based-lending/
