On the first day of Money20/20 Middle East conference, being held in Riyadh, barq for Digital Payments signed three strategic agreements aimed at developing digital payments in Saudi Arabia and the region.

barq signed a strategic partnership with Thunes, represented by Thamer Alharbi, Director of International Partnerships at barq, while Thunes was represented by Ahmed Yaqoub, Vice President of Business Development.

barq also signed a Memorandum of Understanding with Moysar, represented by Muath Alsadhan, General Manager of Partnerships at barq, while Moysar was represented by Mishari AlFaryan, Chief Operating Officer.

On the sidelines of the conference, barq signed a strategic partnership with OneCard, represented by Basel Alhussan, Director of Product Factory at barq, while OneCard was represented by Omar AlRefaie, Senior Sales Director.

These agreements reflect barq’s commitment to expanding its strategic partnerships and enhancing its position as a leading digital wallet, in line with supporting the digital transformation in the financial sector in harmony with the objectives of Saudi Vision 2030.

Abdulaziz AlRudaini, General Manager of Marketing, Communication and Engagement at barq, said: “The Money20/20 Middle East conference proves that Saudi Arabia is the leader in the fintech sector in the region.” He pointed out that this event highlights the significant efforts achieved by the Kingdom in a short period of time. AlRudaini explained that barq’s participation aims to showcase the development and support received by the fintech sector from the leadership and the Saudi Central Bank. He added that barq seeks to provide exceptional products and innovative solutions, enabling it to reach a strong position in the Saudi market, while continuing to empower individuals and offer services that meet their aspirations, always staying a step ahead.

This success comes at a time when barq has achieved distinguished performance during its first year, with its users reaching more than 8 million, processing over 150 million transactions, issuing more than 6.5 million digital cards, and recording over 500 million payment transactions. These achievements confirm the rapid transformation of the financial sector in the Kingdom towards a cashless digital economy and reinforce barq’s position as a leading provider of innovative digital payment solutions.