Riyadh - Sharikat Mubasher: Visa further expanded its Visa Direct ecosystem in Saudi Arabia to enable consumers and businesses to transfer money more quickly, securely, and seamlessly.

The world’s digital payments leader is working with leading financial institutions across the Kingdom, such as Al Rajhi Bank, Alinma Bank, and Saudi Awwal Bank (SAB), to broaden Visa Direct’s money movement capabilities that enable faster, more seamless payment experiences, the company revealed in a press release yesterday.

Offering a wide range of money use cases, Visa Direct enables participating financial institutions, fintech firms, and payment providers to facilitate domestic and cross-border transfers to eligible cards, accounts, and wallets worldwide through Visa's global network.

Ali Bailoun, senior vice president and group general manager for Saudi Arabia, Bahrain, and Oman at Visa, said: "As digital adoption continues to accelerate across Saudi Arabia, where consumers increasingly expect sending and receiving money to be as seamless as making a payment, we are working closely with banks, fintechs, and payment providers to expand access to trusted money movement solutions. The continued growth of Visa Direct reflects both the strength of our infrastructure and the increasing demand for faster, more secure, and more convenient ways to move money."

Visa Direct card transaction volume in Saudi Arabia increased by over 50% year over year, reflecting rising demand for secure and reliable digital money movement solutions.