E-payments world rapidly changing; Saudi Arabia at forefront: Saudi Payments MD

Abdulaziz Al Afaleg, Managing Director of Saudi Payments

The digital payments world and its services are very rapidly changing, Abdulaziz Al Afaleg, Managing Director of Saudi Payments, stated. 

At a dialogue session in the second edition of the Financial Sector Conference (FSC), Al Afaleg added that work has been done with the Saudi Central Bank (SAMA) to open digital banks and keep pace with change.

E-commerce shifted significantly from cash to e-payment, as Saudi Arabia has been at the forefront of innovation in e-payments since the beginning.

A study conducted by Saudi Payments concluded that demand for e-commerce in Saudi Arabia is high and has doubled over the recent years, Al Afaleg highlighted.