We’re delighted to have received the Silver Award in the category ‘Innovative Achievement in International Expansion’ for our continued growth and advanced payment processing and card management solutions, with a particular focus on our activity in Saudi Arabia.
Saudi Arabia is aiming to digitise its payment infrastructure to achieve 70% non-cash transactions by 2025, with a focus on a digitally enabled population as part of its Vision 2030. The cost of cash is high, and moving to a cashless economy is safer, faster and more efficient. In addition, going digital reduces the complexity of cash management procedures, which in turn has the potential to bring substantial cost savings for consumers, merchants and business.
Our active contribution to the digitisation of the Kingdom's payment infrastructure received high commendation from the judges. They acknowledged our partnerships with well-established digital banks and fintechs, and our data-driven Mada-certified platform, which offers rich data and the necessary speed for banks and fintechs to scale rapidly.
The Saudi British Joint Business Council (SBJBC) endorsed our positive impact in helping the Kingdom achieve its 2030 Vision, stating that they are “Impressed to see Paymentology’s ambition and dedication in helping Saudi Arabia achieve their 2030 Vision” and that by “using their own in-country data centres and developing products specifically tailored to the local market, Paymentology has demonstrated clear intent to maintain a durable presence in Saudi and play their part in the Kingdom’s growth”.
The award win is a testament to the hard work and dedication of our team and highlights Paymentology's commitment, together with our clients and partners, to meet the evolving needs of businesses in the region and beyond.
To find out more about the Stevie Awards Middle East and North Africa head to: https://stevieawards.com/mena
