Money20/20 Middle East concluded its three-day edition in Riyadh on September 16, bringing new developments for Saudi Arabia’s payments ecosystem, fresh investment announcements and the winners of its MoneySurge fintech competition.
The final day opened with a keynote from Nora M. Albakr, Deputy Governor for Financial Innovation at the Saudi Central Bank (SAMA), who discussed the future of Saudi Arabia’s financial ecosystem and the role of responsible innovation.
Albakr highlighted SAMA’s focus on maintaining monetary and financial stability while allowing financial technology to develop at greater speed and scale. She also pointed to the regulator’s approach of testing emerging technologies and assessing their practical value before wider adoption.
She cited SAMA’s regulatory sandbox work on supply chain finance as an example. The activity has since exceeded SAR 1.4 billion, demonstrating how regulatory testing can create a pathway for financial innovations to reach the wider market.
New Investment Announcements
The event also saw new investment activity in Saudi Arabia’s fintech sector.
Saudi debt crowdfunding marketplace Lendo announced a partnership with Vienna-based asset management fund Quantic Financial Solutions GmbH, which will invest up to SAR 750 million through an institutional capital programme supporting working capital financing for SMEs in the Kingdom.
European venture capital firm Speedinvest also announced a SAR 15 million investment in Abwab.ai, an AI-powered credit intelligence and underwriting automation platform. The investment marks Speedinvest’s first investment in Saudi Arabia.
Payments, AI and the Future of Finance
Discussions throughout the final day focused on the changing financial landscape, including payments, digital assets and artificial intelligence.
During the session “What Comes After Payments”, speakers explored how interconnected financial services are changing the relationship between payments, customer data and the broader financial ecosystem.
AI was another major topic, with industry leaders discussing trust, transparency and human oversight in financial decision-making. Speakers emphasised that while AI can support financial institutions with information and recommendations, human involvement remains important when making final decisions and maintaining accountability.
SAMA Announces New Payment Options
The event concluded with new developments for Saudi Arabia’s payments infrastructure.
SAMA announced the enablement of Alipay+ payment acceptance in Saudi Arabia, allowing international visitors to use their existing digital wallets for payments in the Kingdom.
SAMA also announced plans to enable Apple’s Tap to Pay on iPhone in Saudi Arabia. The feature will allow merchants to accept contactless payments directly through an iPhone.
MoneySurge Winners Announced
Money20/20 Middle East also concluded its MoneySurge competition, which brought together eight fintech finalists.
Hong Kong-based Planto won the Fintech to Watch award and a USD 100,000 prize. Nigerian fintech Nearpays received the Fintech for Good award and USD 100,000.
The Best in Show award and USD 200,000 prize went to Saudi Arabian company Tanami, a Shariah-compliant private markets investment platform.
Money20/20 Middle East will return to the Riyadh Exhibition & Convention Centre in Malham from September 14 to 16, 2027.
