Riyadh launched the first Money20/20 MiddleEast event on September 15, 2025, drawing over 450 global fintech brands and more than 1,050 investors to reshape the sector. This gathering at the Riyadh Exhibition and Convention Center highlights Saudi Arabia’s push to become a fintech powerhouse under Vision 2030, with key leaders announcing big steps in digital payments and innovation.
Event Draws Global Crowd and Top Leaders
The event marks a key moment for the Middle East’s financial tech scene. Hosted under the guidance of Saudi Arabia’s Minister of Finance, Mohammed Aljadaan, it focuses on building a stronger economy through tech. He shared how the capital market has grown fast, hitting over 2.4 trillion Saudi riyals by mid-2025.
Thousands of attendees from around the world joined in. They include experts in artificial intelligence, blockchain, and payments. The three-day event runs through September 17, offering talks, demos, and networking. Organizers say it is the biggest fintech meetup in the region yet.
Speakers like Ayman Al-Sayari, head of the Saudi Central Bank, stressed teamwork across borders. He noted how fintech is changing banking and needs shared efforts to grow safely.
Big Announcements Drive Fintech Growth
Several major updates came out on day one. The Saudi Central Bank rolled out Google Play support through its MADA system. This move makes digital buys easier for users in the Kingdom.
Another highlight was Alipay+ getting the green light for full use starting next year. It aims to connect Saudi payments with global options, boosting trade and travel.
Tamara, a top Riyadh-based fintech firm and the Kingdom’s first unicorn, grabbed headlines too. It locked in a huge funding deal worth up to 2.4 billion US dollars. This cash will help it expand services like buy-now-pay-later options.
- Google Play integration with MADA for smoother app payments.
- Alipay+ launch to link Saudi users with international networks.
- Tamara’s 2.4 billion dollar facility to fuel growth.
Saudi Fintech Boom Ties to Vision 2030
Saudi Arabia’s fintech world has exploded in recent years. The number of active fintech companies jumped to 280 by mid-2025, up from much fewer just a few years back. This growth matches Vision 2030 goals to diversify the economy and cut oil reliance.
Digital payments have soared too. They went from 18 percent of transactions in 2016 to 79 percent last year. More people now use apps and cards for daily buys, thanks to better tech and rules.
The Capital Market Authority is using AI to spot issues faster. It cut false alerts a lot, making markets safer. Assets under management have doubled in five years, with aims to hit 2 trillion riyals by 2030.
A new omnibus system helps small investors join in. Plus, big pension changes are set to pump more money into the sector.
Key Stats Show Rapid Progress
Here is a quick look at Saudi fintech milestones:
| Metric | 2016/2022 | 2025 |
|---|---|---|
| Digital Payment Share | 18% | 79% |
| Fintech Companies | Under 100 | 280 |
| Capital Market Value | N/A | 2.4T SAR |
| Jobs in Fintech | N/A | 11,046 |
These numbers show how fast things are moving. Funding for fintech startups rose 270 percent in 2023 alone. Women make up 39 percent of the workforce, and Saudization hits 71 percent.
Impact on Global and Local Business
This event is not just local news. It pulls in big names like Mastercard and Visa, who are teaming up for new tech. Startups like Ejari and HyperPay showed off fresh ideas in payments and rentals.
For businesses, it means easier ways to grow. Investors see chances in AI and blockchain. The Kingdom’s rules now support more innovation, drawing funds from abroad.
Recent events like Seamless conferences echo this trend. They discuss how tech shapes the next decade, aligning with global shifts.
What Lies Ahead for Fintech in the Region
Looking forward, experts predict even more growth. The global fintech market could top 300 billion dollars by 2027, with Saudi Arabia leading in the Middle East.
Events like this build bridges. They help share ideas and solve issues like cyber risks. With strong backing from leaders, the sector looks set to create jobs and boost the economy.
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