Riyadh - Sharikat Mubasher: Fintech has become one of the fastest-growing areas in Saudi Arabia's financial sector, expanding access to financial services and transforming how individuals and businesses interact with finance. Driven by the Kingdom’s dedicated strategy and initiatives, the fintech sector has witnessed rapid growth in companies, investment, and adoption.
The latest ‘Vision 2030 Annual Report 2025’ reported that the number of fintech companies in Saudi Arabia increased 15-fold from 2019 to 2025, rising from 20 to 301 companies.
This increase reflects the robust digital transformation in the financial sector, supported by stronger institutions and regulation, led by the Saudi Central Bank (SAMA), the Insurance Authority, and the Capital Market Authority (CMA).
Key milestones in the Saudi fintech sector included the launch of global payment gateways such as Samsung Pay, Google Pay, and AliPay+, as well as the licensing of several digital banks, including STC Digital Bank, Vision Bank, and EZ Bank.
It is worth mentioning that digital payments accounted for 85% of total retail transactions in 2025, up from 79% in 2024.