Saudi Arabia recorded key ICT developments including BARQ becoming a tech unicorn, PayTabs acquiring Amazon Payment Services MENA, and new AI policy initiatives.
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Saudi digital payment platform BARQ secured $329.5 million in Series A funding at a $1.85 billion valuation, backed by Noon Investments and Sohar International Bank.
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NEOPAY and Commercial Bank of Dubai have formed a partnership to help UAE merchants access working capital and banking services through transaction data.
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Saudi Minister of Finance opened the second edition of Money20/20 Middle East in Riyadh, bringing together 38,000 visitors and 350 speakers.
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Vision Bank and Publicis Sapient have signed a strategic agreement at Money20/20 Middle East in Riyadh to build an AI innovation hub.
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Money20/20 Middle East opened in Riyadh featuring major announcements, including Tabby’s valuation reaching $6.5B and Silq’s SAR 500M financing agreement.
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Money20/20 Middle East launched the RiseUp programme in Riyadh to support 30 senior women leaders shaping financial technology and services.
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Mastercard expands its Built Small Moving Strong platform with new business cards, commercial discounts, and SME research across Saudi Arabia.
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Tarabut has secured $50 million from major Saudi financial institutions to expand its regulated embedded finance infrastructure across the Kingdom.
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A weekly roundup of major Saudi ICT deals, featuring $15B at LEAP 2026, HUMAIN’s new $10B venture fund, and massive national data center expansions.
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Al Rajhi Bank and Uber Saudi Arabia have launched a partnership offering eligible customers a complimentary three-month Uber One membership starting Q4 2026.
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Proposals presented at the Brazil and Arab Countries Economic Forum outline digital platforms, AI trade tools, and fintech partnerships to expand bilateral commerce.
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PayTabs Group agrees to acquire Amazon Payment Services MENA operations in a deal valued above $100 million, processing over SAR 150 billion annually.
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Mastercard and QNB Group completed Syria’s first international card transaction in 15 years following system reconnection.
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Saudi industrial fintech financing climbed 130% to SR541 million in H1 2026 as the number of active digital lenders expanded from three to seven.
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XSquare has raised a pre-Seed investment round from Raed Ventures, 500 Global, and Oraseya Capital to launch B2B payment operations in Saudi Arabia.
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A study by Chargebacks911 shows that nearly one in four merchants experiences internal fraud, while over half fail to monitor internal dispute actions.
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Saudi First Bank and Noon have launched a joint Visa credit card offering up to 10% cashback on digital purchases and a two-year Noon One membership.
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Barq and Riyadh Air have signed a strategic partnership to develop a secure and scalable digital payments platform, enhancing the airline’s financial infrastructure.
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SILQ has secured $100 million in financing from regional and international investors to expand its Fina embedded finance platform for SMEs.
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