Paymentology Expands Presence in Saudi Arabia to Support Vision 2030 and Next-Generation Payments

Paymentology, the leading global issuer processor, today announces its commercial registration in Riyadh to expand its on-the-ground presence. This strategic expansion brings world-class card issuing and payment processing capabilities to the heart of the Kingdom’s fintech revolution, serving as a launchpad for next-generation payment innovation, enabling banks and fintechs in Saudi Arabia to create digital payment experiences built for the future.

With team members in 65 countries, Paymentology combines global capability with local execution. Active in Saudi Arabia since 2020, the company is hiring senior representatives, building a strong local team, and deploying world-class infrastructure to deliver resilience, scalability, and security.

This local presence enables Paymentology to drive in-market growth, deliver local customer support, and develop products aligned with the country’s ambitions, including its AI agenda. Fast-growing clients such as Tabby and D360, amongst others, have already benefited significantly from Paymentology’s technology and expertise, making a stronger presence in Riyadh the natural next step.

Jeff Parker, CEO of Paymentology, said: “Saudi Arabia is a unique and dynamic market, with its own pace, priorities, and ways of doing business. Success here depends on being present, listening closely, and building lasting relationships. Our approach to localisation is grounded in action, adapting our products, services, and support to the ways people and businesses truly operate here. By establishing our on-the-ground presence in Riyadh, we can be closer to our clients, invest in the right talent, and respond with the speed, precision, and cultural understanding that this market demands.”

The move comes as Saudi Arabia’s fintech sector experiences unprecedented growth. According to the Saudi British Joint Business Council, the number of fintech companies in the Kingdom has grown from fewer than 20 in 2018 to over 200 in 2024, an increase of around 900% in just six years. This surge is mirrored in the rapid adoption of digital payments, with the Saudi Central Bank (SAMA) reporting that electronic payments accounted for 79% of total retail transactions in 2024, one of the Financial Sector Development Programme’s key objectives, up from 70% in 2023.

Reflecting this momentum, the Kingdom’s payment systems saw 12.6 billion “non-cash” transactions in 2024, compared to 10.8 billion in 2023, evidence of a market rapidly embracing digital-first commerce, supported by modern infrastructure and innovation. Paymentology’s cloud-first issuing platform, with direct connections to leading platforms such as Oracle Cloud Infrastructure (OCI) and Amazon Web Services (AWS), is built to serve exactly this kind of high-volume, high-speed payments environment, ensuring scalability, resilience, and speed as Saudi Arabia’s payment systems continue to grow.

Nauman Hassan, Regional Director for MENA at Paymentology, added: “The Kingdom’s fintech ecosystem is evolving at remarkable speed, with consumers rapidly embracing mobile-first experiences, instant payments, and embedded financial services at scale. In Saudi, trust is built face-to-face – you need people on the ground. Our presence in Riyadh allows us to work closely with clients, understand the nuances of the market, and respond quickly to their needs. Our local team brings deep expertise, supported by infrastructure that meets the highest standards, ensuring we help our clients grow and innovate in a way that is truly built for Saudi Arabia.”