Google Pay is set to launch in Saudi Arabia, the Kingdom’s central bank announced at the Money20/20 Middle East conference in Riyadh.

The Saudi Central Bank (SAMA) also signed an agreement with Ant International to enable Alipay+ payments in the Kingdom by 2026. Both initiatives will operate through the national payment network, mada.

According to SAMA, these developments support Saudi Arabia’s Vision 2030 goals of expanding the digital economy, boosting financial inclusion, and increasing cashless transactions to 70% by 2025. They also align with the Financial Sector Development Program, which aims to strengthen the Kingdom’s financial infrastructure.

“The Google Pay service provides an advanced and secure payments experience, enabling users to conveniently provision and manage their mada cards and credit cards within the Google Wallet application,” SAMA said. The launch, it added, forms part of broader efforts to enhance digital payments infrastructure and position Saudi Arabia as a leader in fintech innovation.

The agreement with Ant International will enable visitors to make transactions in Saudi Arabia using international wallets linked to Alipay+, a move expected to streamline retail payments and reinforce the Kingdom’s position as a digital payments hub.

In his keynote speech, SAMA Governor Ayman Al-Sayari highlighted the rapid growth of the Saudi fintech sector, which has expanded from 82 companies at the end of 2022 to approximately 281 by August 2025.

“The extraordinary growth of this sector has been in keeping with our national ambitions and commitment to global excellence. The sector has experienced a remarkable threefold expansion,” he said, noting cumulative investments of around $2.39 billion.

Al-Sayari described the payments ecosystem as one of the Kingdom’s key achievements, noting that electronic payments accounted for 79% of total retail transactions in 2024, reaching 12.6 billion, up from 10.8 billion in 2023.

Finance Minister Mohammed Al-Jadaan, also speaking at the event, said the Saudi financial market has grown to nearly $640 billion, making it one of the fastest-expanding markets globally. He added that efforts are underway to integrate artificial intelligence into financial systems.