Payment platforms rise to secure Saudi Arabia’s $1.8b gaming market

By Gloria Methri

Saudi Arabia has emerged as a formidable force in the mobile gaming industry, boasting a market valued at $1.8 billion, as per a recent report from PayerMax. This staggering figure accounts for 45% of the entire Middle East and North Africa (MENA) region’s mobile gaming market. The Kingdom’s passion for gaming is evident, with nearly two-thirds (67%) of the population identifying as gamers. This substantial user base presents a lucrative opportunity for both local and international game developers aiming to tap into this vibrant market.

Demographics and Spending Habits of Saudi Gamers

Among Saudi gamers, spending patterns reveal a diverse yet significant investment in mobile gaming. Approximately 32% of gamers are classified as average spenders, while 12% are considered big spenders. The projected average revenue per user (ARPU) is set to reach US $85.47 in 2024. This highlights the strong monetization potential within the Saudi gaming community, emphasizing the importance of effective payment solutions to facilitate smooth transactions.

Payment Platforms and Risk Control Strategies

Given the high value of the mobile gaming market in Saudi Arabia, payment platforms must implement regionally targeted risk control strategies. These strategies are essential not only for protecting game companies from fraud but also for ensuring secure and seamless transactions for end users. Several payment platforms and FinTech companies have emerged to cater to the growing demand in this sector.

Popular Payment Solutions in Saudi Arabia

1. PayerMax: An Asian FinTech with an RHQ license in Saudi Arabia, PayerMax recognizes the crucial role that secure and convenient payment solutions play in the booming mobile gaming landscape. The company offers tailored payment solutions for in-app purchases, game webshop top-ups, micro incentives, and more, supporting both mobile game developers and passionate Saudi gamers.
2. STC Pay: A leading digital wallet in Saudi Arabia, STC Pay offers a secure and convenient way for gamers to make in-app purchases and other transactions. The platform’s extensive reach and user-friendly interface make it a popular choice among Saudi gamers.
3. Mada: As the national payment network of Saudi Arabia, Mada facilitates secure and efficient electronic payments. It has integrated with various mobile gaming platforms to enable hassle-free transactions for gamers across the Kingdom.
4. urpay: Known for its robust cross-border payment capabilities, urpay is another key player in the Saudi gaming payments landscape. The platform ensures that gamers can make purchases seamlessly, regardless of their location.
5. HyperPay: A comprehensive payment gateway, HyperPay supports a wide range of payment methods, catering to the diverse preferences of Saudi gamers. Its focus on security and efficiency has made it a trusted partner for numerous game developers.

The Future of Gaming Payments in Saudi Arabia

As the mobile gaming market in Saudi Arabia continues to grow, the demand for efficient and secure payment solutions will only intensify. Payment platforms must continuously innovate and adapt to meet the evolving needs of gamers and developers. This includes enhancing fraud detection mechanisms, offering diverse payment options, and ensuring a seamless user experience.

Moreover, with the projected increase in ARPU, payment platforms have a significant opportunity to further monetize their services by introducing value-added features such as loyalty programs, in-game currency management, and personalized payment plans.

Payment platforms that can provide secure, efficient, and user-friendly solutions will play a crucial role in shaping the future of gaming in the Kingdom, ensuring a thriving ecosystem for gamers and developers alike.