Riyadh - Sharikat Mubasher: barq, a leading digital wallet for consumers and businesses in the Kingdom of Saudi Arabia has recently announced launching its new digital wallet as well as its application for mobile phones.

Developed by Saudi hands, the new application of barq is launched to cater to the needs of the Saudi market to adopt the concept of digital wallets, which aligns with the requirements of clients, according to a press release issued by the company.

barq wallet is completely free of charge for all transactions conducted via the application and website. It is considered the one and only digital wallet in the Kingdom with a monthly limit of SAR 100,000 and can be charged with any sum of money starting at SAR1.

The company sees this stride as a step forward in improving digital transactions and contributing to the enhancement of the effectiveness and flexibility of financial transactions through adding new innovations and creative services to this particular industry in the Kingdom.

barq is Saudi Arabia’s latest innovative financial technology app. Developed by young Saudi talents, barq obtained its license from the Saudi Central Bank in January 2024. barq aims to provide financial products and services that will transform daily life and fulfill users’ exact needs while combining both convenience and joy at every interaction.