Riyadh - Sharikat Mubasher: Payermax, a global provider of payment solutions headquartered in Singapore, forged a strategic partnership with Saudi Awwal Bank (SAB) to enhance digital payments and drive digital transformation in the Kingdom.

Both parties will work together on redefining the digital landscape and streamlining the onboarding experience for local merchants, a recent statement revealed.

This partnership mirrors the shared commitment of SAB and PayerMax to providing seamless payment solutions and facilitating cross-border transactions, in alignment with Vision 2030’s goal of transforming the Kingdom into a global leader in digital innovation.

Yasser Al-barrak, Chief Corporate and Institutional Banking Officer at SAB, stated that the partnership with PayerMax underscores the bank’s dedication to fostering innovation, delivering effective payment solutions, and bolstering the Saudi payment landscape, in conjunction with Vision 2030.

On her part, Essay Zhu, Partner and COO at Payermax, said: “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.”

This partnership came as part of PayerMax’s wider strategy to collaborate with Saudi ministries and entities to provide inclusive financial products and services that reach underserved populations.

PayermMax has more than 10 local offices in Saudi Arabia, UAE, Bahrain, Kuwait, Indonesia, Thailand, the Philippines, Malaysia, Brazil, Mexico, South Korea, Shanghai, and Hong Kong. Its extensive network supports over 600 payment methods, more than 70 transaction currencies, and over 20 local languages.