Saudi Digital Wallets Surge with Google Pay and Alipay+ Integration
Saudi Arabia is rapidly advancing its digital finance infrastructure, with mobile wallets playing a central role in this transformation. In 2024, the Kingdom reached a 79% cashless transaction rate, exceeding its 2025 target ahead of schedule. This progress is now being reinforced by the integration of Google Pay into the national mada system and the upcoming launch of Alipay+ QR code payments in 2026. These developments mark a significant step forward in the Saudi Digital Wallets Surge, expanding access, improving convenience, and aligning with Vision 2030’s financial inclusion goals.
Google Pay Goes Live via mada, Enhancing Wallet Utility
At the Money20/20 Middle East Conference in Riyadh, the Saudi Central Bank (SAMA) announced the integration of Google Pay into the national mada payment system. This rollout allows users to manage their mada and digital credit cards directly through Google Wallet, streamlining mobile transactions and enhancing user experience. The move aligns with SAMA’s strategy to promote fintech adoption on smart devices and reflects the Kingdom’s commitment to improving digital financial services.
Alipay+ Cross-Border QR Payments to Launch in 2026
Looking ahead, SAMA and Ant International are preparing to launch cross-border QR code payment capabilities between mada and Alipay+ in 2026. This initiative will enable local merchants—especially SMEs—to accept payments from Alipay+’s international partners. By expanding payment acceptance across borders, the program fosters digital inclusivity and positions Saudi Arabia as a regional leader in mobile wallet interoperability.
Saudi Digital Wallets Surge Supports Vision 2030 Goals
These developments are part of the Financial Sector Development Program under Vision 2030, which aims to diversify the economy and stimulate innovation. One of the program’s core goals is to achieve 70% non-cash transactions by 2030, a target already surpassed with a 79% rate achieved in 2024. The surge in digital wallets is also expected to support tourism objectives, including attracting 150 million visitors and creating new employment opportunities across sectors.
Real-Time Cross-Border Transfers Now Enabled by Thunes
Complementing these efforts, global payments network Thunes has launched real-time cross-border transfers into Saudi Arabia. Through its Direct Global Network, users can now send instant payments to Saudi bank accounts and wallets in SAR. This capability enhances the speed and reliability of international transactions, supporting both individual users and enterprise-level financial flows.
Market Value Reaches USD 181.13 Billion in 2025
Saudi Arabia’s payments market reached USD 181.13 billion in 2025 and is projected to grow to USD 298.26 billion by 2030, reflecting a robust 10.49% CAGR. While point-of-sale transactions still dominate, online channels are rapidly expanding through account-to-account rails, e-commerce platforms, and tokenized pilgrim wallets. The Saudi Digital Wallets Surge is a key driver of this growth, reshaping consumer behavior and enabling new service layers across industries.
Fintech Ecosystem Expands to 280+ Companies
By mid-2025, more than 280 fintech companies were operating in the Kingdom, supported by SAMA’s structured innovation frameworks. Programs like Fintech Saudi and Makken provide startups with access to cloud infrastructure, cybersecurity tools, and regulatory guidance. These efforts ensure that the Saudi Digital Wallets Surge is not only technologically advanced but also inclusive and well-regulated.
Wallet Innovation Anchored in Regulatory Clarity
SAMA’s approach to digital wallet innovation is rooted in structured adaptiveness. Through its Regulatory Sandbox, over 70 fintechs have tested new models, with more than 25 graduating into fully licensed providers. Key regulations around electronic money institutions, crowdfunding, and digital payments have emerged from these engagements, reinforcing consumer trust and operational resilience.
A Future-Ready Ecosystem Built on Global Collaboration
The integration of global platforms like Google Pay and Alipay+ demonstrates Saudi Arabia’s commitment to interoperability and international standards. These partnerships are not just technical—they’re strategic, enabling the Kingdom to serve both residents and international visitors with seamless, secure, and scalable wallet solutions. As Saudi Digital Wallets Surge continues, the nation is well-positioned to lead the Gulf in digital finance innovation.
Also Read: Saudi Fintech Ecosystem Surpasses 2025 Goal Early
