Akurateco, a leading global payment software provider, has formed a strategic partnership with DineroPay, an emerging Payment Service Provider (PSP) in Saudi Arabia, to push the boundaries of innovation in the rapidly growing mobile payments sector. This collaboration has resulted in the successful launch of advanced mobile wallet solutions, including Apple Pay and Google Pay, customized to meet the specific needs of the Saudi Arabian market.
This partnership underscores the increasing significance of mobile payments in the Middle East, where the region is shifting toward digital-first financial solutions. As Saudi Arabia’s mobile payment market reached $24.7 billion in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 10.3% through 2033, according to IMARC Group.
Akurateco and DineroPay are strategically positioned to take advantage of this growth by offering secure, scalable, and regionally compliant payment solutions. A key milestone of their collaboration is the implementation of an on-premises payment infrastructure hosted on Oracle Cloud, fully compliant with the Saudi Arabian Monetary Authority (SAMA) requirements for data localization. This infrastructure ensures regulatory compliance while providing scalability and performance optimization for DineroPay’s growing operations.
A major component of their solution is the use of network tokenization technology, which replaces sensitive card details with secure tokens, reducing fraud risks and enhancing the security of mobile transactions. Additionally, with Akurateco’s white-label gateway, DineroPay now supports multiple methods of token decryption, providing businesses with greater flexibility to optimize payment flows and improve approval rates.
This partnership demonstrates how technology is driving digital transformation in the region, positioning Akurateco and DineroPay at the forefront of the mobile payments revolution in MENA. Their combined expertise is empowering businesses and consumers with cutting-edge solutions as they shape the future of mobile payments in the region.
