PayerMax and Saudi Awwal Bank partner to support digital payments

By Gloria Methri

PayerMax has announced a strategic partnership with Saudi Awwal Bank to enhance the digital payment ecosystem in Saudi Arabia. This partnership aims to redefine the digital payments landscape and streamline the onboarding experience for local merchants, facilitating seamless global transactions.

Essay Zhu, Partner and COO at Payermax, said, “We are pleased to partner with SAB, a leading financial institution with a strong presence in the Saudi market. This collaboration aligns perfectly with our vision of empowering businesses and consumers through innovative payment solutions. By combining PayerMax’s expertise in payment services with SAB’s deep understanding of the local market, we are confident in our ability to deliver significant value and drive digital transformation in Saudi Arabia.”

Yasser Al-barrak, Chief Corporate & Institutional Banking Officer at SAB, said, “This collaboration reflects our commitment to fostering innovation and delivering effective payment solutions that will further enhance the Kingdom’s payment landscape which aligns with the aspirations of Saudi Vision 2030.”

PayerMax supports more than 70 transaction currencies and is focused on empowering the borderless growth of the fastest-growing digital merchants in emerging markets. Its business operations span across 150 countries and regions worldwide, including Southeast Asia, the Middle East, and Latin America.

Headquartered in Singapore, PayerMax has established more than 10 local offices in Saudi Arabia, UAE, Bahrain, Kuwait, Indonesia, Thailand, the Philippines, Malaysia, Brazil, Mexico, South Korea, Shanghai (China), and Hong Kong (China).

SAB is one of the leading corporate and institutional international banks in the Kingdom, with a top Wealth and Personal Banking proposition. It offers integrated financial and banking services, including corporate banking, investment, private banking, and treasury.

This partnership reflects PayerMax and the bank’s commitment to contributing to Saudi Vision 2030, which aims to transform the Kingdom into a global leader in digital innovation by providing seamless payment solutions and facilitating cross-border transactions.