Visa, the global leader in digital payments, is helping to bolster Saudi Arabia’s infrastructure, talent and support the growth of local fintechs, as part of its role as a founding partner of 24Fintech, an event dedicated to advancing the fintech sector in the county, in support of Vision 2030.
Through this partnership, Visa explained that it remains committed to driving innovation and uplifting communities through best-in-class digital payments, while supporting the growth of fintechs and Saudi Arabia’s digital transformation ambitions through 24Fintech.
The Financial Sector Development Program (FSDP), the Saudi Central Bank (SAMA), the Capital Market Authority (CMA), and the Insurance Authority (IA) are hosting the event, which Fintech Saudi and Tahaluf are also co-organising.
“Our partnership with 24Fintech underscores our commitment to Saudi Arabia’s Vision 2030 and its fintech ecosystem,” Ali Bailoun, regional general manager for Saudi Arabia, Bahrain, and Oman at Visa. “At Visa, we aim to empower businesses by seamlessly integrating them into the payments ecosystem, fostering their growth and expansion through Visa’s Fast Track and Visa Ready solutions.
“Our role at 24Fintech builds on our strategic initiatives, such as the partnership with FinTech Saudi and the Visa Everywhere Initiative. We look forward to leveraging this partnership to accelerate the digitisation of Saudi Arabia’s financial ecosystem.”
Through strategic partnerships with local stakeholders including STA, as well as developing a soon-to-be-established Visa Innovation Centre in Riyadh, Visa is looking to support the Kingdom’s digital transformation journey.
Supporting Saudi’s fintech ecosystem
The upcoming 24Fintech will premiere at the Riyadh Front Exhibition & Conference Centre from 3 to 5 September 2024. The anticipated event underscores the industry’s collective commitment to unlocking business and networking opportunities, and embracing innovation in the fintech sector.
The event will also feature a number of speakers from Visa, including:
Ali Bailoun
Andrew Torre, regional president for CEMEA region
Saeeda Jaffar, senior vice president and group country manager for Visa in the GCC
Valla Vikili, global head of innovation
Visa also plans to set up a booth at the event, offering attendees the opportunity to explore Visa’s range of products and solutions. Visa will feature three of its strategic partners at its booth: Tarabut, Beyon, and Thawani. Their inclusion hopes to highlight the collaborative and symbiotic nature of Visa’s work in fintech solutions.
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