In a landmark agreement aimed at revolutionizing trade in Saudi Arabia, Ant International has entered Saudi Arabia. Ant International is a digital innovation and fintech leader. This collaboration seeks to facilitate cross-border mobile payments and empower Saudi businesses by expanding Ant International’s operations in the Kingdom. Through a MoU, the Ministry of Investment will support Ant International’s expansion plan. Additionally, it will assist with licenses and certificates to enhance its service offerings.
Meanwhile, Ant International will establish its presence in Saudi Arabia and expand into the Middle East market. Ant Internation will be offering a range of digital payment and financial services for this initiative. Ant International’s suite of services includes cross-border mobile payment, merchant payment services, digital payment for cross-border trade, and a digital wholesale bank, all under the regulation of the Monetary Authority of Singapore.
This strategic partnership is expected to drive growth in the digital payments sector in Saudi Arabia. This partnership will benefit both merchants and consumers. Eng. Saleh Khabti, Deputy Minister for Investment at MISA, emphasized the significant growth potential of digital payments in Saudi Arabia.
Douglas Feagin, President of Ant International, expressed enthusiasm about the collaboration, highlighting the company’s commitment to providing world-class payment solutions and financial services. The partnership aims to equip Saudi businesses with the tools they need to thrive in the global market and capitalize on international trade opportunities.
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