barq Signs Memorandum of Understanding with Alipay+ at the Conclusion of LEAP 2025 Conference

"barq" and "Alipay+" announced today a new agreement that will make barq part of the Alipay+ international network. This step enhances the strategic partnership between the two companies and is part of the ongoing expansion of  which is a unified electronic payment prtoal service that includes over 35 digital wallets and banking applications worldwide.
 

Following the necessary regulatory approvals, the MOU was signed between the two companies on the sidelines of LEAP 25, the world’s most attended tech event , hosted by the Kingdom for the fourth consecutive year at the Riyadh Exhibition and Convention Center in Malham, from February 9 to 12.
 

The memorandum paves the way for "barq" to partner with Alipay+ to facilitate travel and shopping experiences for its customers, which in turn contributes to enhancing tourism in the Kingdom.
 

It is noteworthy that Alipay+ is a global mobile payment service from Ant International, the parent company of Alipay+, designed to expand its presence outside China, allowing for cross-border payments. Alipay+ integrates various payment methods from different countries and regions, enabling users to purchase products and services using their local payment systems, while merchants benefit from a comprehensive global payment platform.
 

On this occasion, Mr. Faisal Al-Khamisi, Chairman of barq, expressed his excitment with this agreement, stating, "I am pleased today to express our pride and joy in signing the memorandum of understanding with our partners at 'Alipay+', this leading international network. We are proud to be part of the expansion of Alipay+ worldwide, hoping that this important step will soon provide barq's customers with more solutions and benefits that make their experience faster, easier, more flexible, and secure, which aligns with our goal of achieving their satisfaction and meeting their aspirations."
 

On his part, Leiming Chen, Senior Vice President and Chief Sustainability Officer of Ant International noted that: “LEAP is a global platform for KSA’s biggest innovators and fintech leaders. There is no better setting to join hands with barq and together with Alipay+ to foster innovation and inclusion in the Kingdom through cross-border payments and mobile services for inbound and outbound travellers.”

This agreement is a part of barq's efforts to expand its partnerships that support the development of its services and contribute enhances the effectiveness, flexibility, and security of financial transactions. This aligns with Saudi Arabia's Vision 2030, which aims to develop the financial sector, especially amidst the rapid growth being witnessed in the fintech and digital payments sector in the Kingdom.