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Paymentology has strengthened its foothold in the Middle East with the establishment of its commercial registration in Riyadh.
Paymentology deepens Saudi Arabian presence
The move signals a clear commitment to Saudi Arabia’s fast-growing digital payments sector, one of the most dynamic fintech markets in the region.
Although active in the Kingdom since 2020, Paymentology’s decision to build a substantial on-the-ground presence represents more than a formal expansion.
By hiring senior executives, assembling a local team, and deploying resilient cloud-based infrastructure, the company is positioning itself to play a pivotal role in the country’s financial modernisation.
Its cloud-first platform integrates directly with Oracle Cloud Infrastructure and Amazon Web Services, enabling scalability and resilience for a market now processing billions of electronic transactions annually.
Jeff Parker, Paymentology’s chief executive, framed the move as a strategic necessity.
“Saudi Arabia is a unique and dynamic market, with its own pace, priorities, and ways of doing business. Success here depends on being present, listening closely, and building lasting relationships,” he said.
That localisation strategy—anchored in cultural understanding and face-to-face engagement—appears designed to build trust with clients such as Tabby and D360, both of whom have already deployed Paymentology’s technology.
The timing is significant.
Saudi Arabia’s fintech ecosystem has expanded at breakneck pace, with the number of licensed fintech firms soaring from fewer than 20 in 2018 to more than 200 in 2024, according to the Saudi British Joint Business Council.
Over the same period, the Saudi Central Bank (SAMA) has reported rapid adoption of digital payments, which accounted for 79% of all retail transactions in 2024—up sharply from 70% the previous year.
Non-cash transactions reached 12.6 billion in 2024, compared to 10.8 billion in 2023, underscoring a structural shift towards cashless commerce.
These gains are closely tied to the Financial Sector Development Programme, part of Vision 2030, which prioritises digital infrastructure as a foundation for economic diversification.
Nauman Hassan, Paymentology’s regional director for MENA, highlighted the importance of proximity to clients: “In Saudi, trust is built face-to-face.
Our presence in Riyadh allows us to work closely with clients, understand the nuances of the market, and respond quickly to their needs.”
For Paymentology, the expansion is both a statement of intent and a practical step towards embedding itself within one of the world’s fastest-moving digital finance landscapes.
For Saudi Arabia, it marks another signal that the Kingdom’s payments infrastructure is no longer catching up—it is setting the pace.
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