SAMA Enables Alipay+ and Apple Tap to Pay as Money20/20 Middle East Concludes

The conclusion of Money20/20 Middle East in Riyadh has accelerated Saudi Arabia’s fintech trajectory through major regulatory shifts and significant capital injections. With the Saudi Central Bank (SAMA) enabling Alipay+ and Apple’s Tap to Pay, the Kingdom is rapidly dismantling barriers to international payment interoperability, signaling a mature phase for the Vision 2030 financial ecosystem.

What was announced

The Saudi Central Bank (SAMA) used the final day of Money20/20 Middle East to announce the enablement of Alipay+ payment acceptance and plans for Apple’s Tap to Pay on iPhone within the Kingdom. These moves are designed to facilitate seamless transactions for international visitors and allow local merchants to accept contactless payments directly on mobile hardware. Nora M. Albakr, Deputy Governor for Financial Innovation at SAMA, highlighted that the bank’s regulatory sandbox has already seen supply chain finance activity exceed SAR 1.4 billion, providing a structured pathway for licensed market adoption.

Institutional capital also flowed into the region during the event. Lendo, a Shariah-compliant debt crowdfunding marketplace, partnered with Vienna-based Quantic Financial Solutions GmbH to launch a SAR 750 million institutional capital programme for SME working capital. Additionally, European venture firm Speedinvest made its first Saudi investment, committing SAR 15 million to Abwab.ai, an AI-driven credit intelligence platform. The event’s "MoneySurge" competition awarded $400,000 in total prizes. Tanami, a Shariah-compliant private markets platform, took the "Best in Show" title and $200,000. Hong Kong-based Planto received $100,000 as "Fintech to Watch," while Nigerian firm Nearpays secured $100,000 in the "Fintech for Good" category.

"When markets genuinely don’t close and everything operates 24/7, that will have a fundamental impact on capital markets. As money and underlying assets move around the clock, it creates demand for 24/7 yield, and that convergence will be one of the key drivers of change across capital markets."

Tony Ashraf, Managing Director at BlackRock.

The companies involved

The Saudi Central Bank (SAMA) serves as the primary regulator and monetary authority for the Kingdom, playing a central role in the Saudi Vision 2030 initiative to modernize the financial sector. Speedinvest is a prominent European venture capital firm that has now officially entered the Saudi market through its investment in Abwab.ai, a platform specializing in underwriting automation. Lendo operates as a Shariah-compliant debt crowdfunding marketplace focused on bridging the financing gap for small and medium-sized enterprises in Saudi Arabia.

Among the emerging players, Tanami is a Saudi Arabian Shariah-compliant private markets investment platform that aims to broaden access to regional investment opportunities. Planto, based in Hong Kong, provides financial institutions with cash flow insights and wealth analytics, while Nearpays is a Nigerian digital payment platform offering virtual accounts and smartphone-based point-of-sale solutions. Quantic Financial Solutions, headquartered in Vienna, Austria, is an asset management fund that has now committed significant institutional capital to the Saudi SME sector through its partnership with Lendo.

What FF News has reported before

FF News has closely followed the rapid evolution of the Saudi payments landscape. We recently covered how Saudi Arabia and Qatar Launch Mutual Acceptance for mada and HIMYAN Payment Cards, a significant step for regional interoperability. This followed our report on the Saudi-Qatar Cross-Border Payment Deal and $329M barq Funding Headline Money20/20 Riyadh, which detailed the momentum during the event's earlier sessions. Additionally, we noted that the Visa Acceptance Platform Certified for SAMA’s New E-commerce Interface in Saudi Arabia, highlighting the technical infrastructure being laid for global providers. Our preview, Money20/20 Middle East Unveils 2026 Riyadh Agenda Featuring Visa, BlackRock, and Tabby, set the stage for these major announcements.

What this means

The announcements from Riyadh signal that Saudi Arabia is successfully transitioning from a market of potential to one of active execution. SAMA’s decision to enable Alipay+ and Apple’s Tap to Pay puts immediate pressure on traditional merchant acquirers to modernize their hardware and software stacks or risk obsolescence. Furthermore, the SAR 1.4 billion generated through the regulatory sandbox for supply chain finance demonstrates that the Kingdom’s "test-and-learn" approach is yielding tangible economic volume. For the wider Middle East, the entry of European venture capital and Austrian asset management suggests that the competitive landscape for SME lending and AI-driven credit is becoming globalized.