Saudi fintech company Barq has announced a strategic partnership with Alipay+ to boost cross-border payments, making Barq a part of Alipay+’s international network. This move aligns with Barq’s efforts to create a unified electronic payments portal that integrates over 35 digital wallets and banking apps worldwide.
Alipay+, a mobile payment service from Ant International, is designed to expand outside of China and facilitate cross-border payments by integrating various local payment systems. This partnership will provide Barq’s customers with improved travel and shopping experiences, while supporting Saudi Arabia’s tourism industry. The collaboration aims to make cross-border payments faster, easier, more flexible, and secure.
The partnership also aligns with Saudi Arabia’s Vision 2030, which focuses on diversifying and developing the financial sector, especially with the rapid growth of fintech and digital payments in the Kingdom. The partnership builds on Barq’s efforts to expand its service offerings and optimize financial transactions, helping the company enhance its value proposition in the region.
In addition, Barq partnered with Mastercard in 2024 to improve payment acceptance solutions. This collaboration allows Barq to leverage Mastercard’s technology to offer more personalized payment solutions for merchants and customers in Saudi Arabia.
