Google Pay to Launch in Saudi Arabia as Fintech Sector Surges

Saudi Arabia’s central bank has announced the rollout of Google Pay across the Kingdom, a move designed to accelerate the adoption of digital payments in line with Vision 2030. The announcement came during the Money20/20 Middle East conference in Riyadh, where the Saudi Central Bank (SAMA) also signed an agreement with Ant International to enable the acceptance of Alipay+ payments by 2026.

Both initiatives will be integrated into the Kingdom’s National Payment System, known as mada, strengthening the country’s growing fintech ecosystem. According to SAMA, these developments support Saudi Arabia’s goal of raising cashless transactions to 70 percent of total payments by 2025, a central target of its Financial Sector Development Program.

“The Google Pay service provides an advanced and secure payments experience, enabling users to conveniently provision and manage their mada cards and credit cards within the Google Wallet application,” SAMA said in a statement. The launch is part of a series of infrastructure upgrades aimed at streamlining digital payments and reinforcing the Kingdom’s role as a global leader in fintech solutions.

The partnership with Ant International will also allow visitors to Saudi Arabia to use international wallets linked to Alipay+, enabling secure transactions at retail locations nationwide. Officials noted that this initiative is one of several steps to meet domestic market needs and support the Kingdom’s ambitions to become a hub for innovation in digital finance.

During a keynote address, SAMA Governor Ayman Al-Sayari highlighted the rapid expansion of the country’s fintech sector, which has grown from 82 companies at the end of 2022 to around 281 firms by August 2025. “The extraordinary growth of this sector has been in keeping with our national ambitions and commitment to global excellence,” Al-Sayari said. “It has also attracted cumulative investments of around SR9 billion ($2.39 billion), cementing its status as one of the most attractive sectors for investors.”

Al-Sayari noted that electronic payments accounted for 79 percent of retail transactions in 2024, with the total number of digital payments reaching 12.6 billion, up from 10.8 billion the previous year. He described this momentum as evidence of the Kingdom’s capacity to innovate and deliver industry-leading solutions.

Finance Minister Mohammed Al-Jadaan also addressed the conference, stressing that Saudi Arabia’s financial market has become one of the fastest growing globally, surpassing SR2.4 trillion. He added that authorities are working to integrate artificial intelligence tools into the financial system to further enhance efficiency and competitiveness.

Money20/20 Middle East, running from September 15 to 17, brings together 451 brands, 450 speakers, more than 1,000 investors, and 157 startups. The event focuses on shaping the future of money, finance, and technology, with Saudi Arabia positioning itself at the forefront of global fintech transformation.