Ant International, Saudi’s Abdul Latif to digitize MSME services

Abdul Latif Jameel Finance and Ant International have signed a memorandum of understanding to explore fintech collaborations in Saudi Arabia.

Abdul Latif Jameel Finance, regulated by the Saudi Central Bank, is a financing provider in Saudi Arabia.

Ant International, headquartered in Singapore, offers digital payment and financial technology services globally.

The partnership will focus on developing digital financial services for businesses and consumers in Saudi Arabia.

The companies plan to explore using Ant International’s WorldFirst platform to support Abdul Latif Jameel Finance’s digitization efforts, and collaborate on cross-border payment solutions through Alipay+.

Ant International opened its first Middle East office in Riyadh in 2025, and plans to integrate Alipay+ with Saudi Arabia’s national payment system, mada, in 2026.

The MoU aims to enhance support for retail and MSME customers in Saudi Arabia by combining Abdul Latif Jameel Finance’s local network with Ant International’s digital technology.

🔗 Source: Ant International

🧠 Food for thought

Implications, context, and why it matters.

Licensing requirements could delay or block the partnership’s payment ambitions

SAMA oversees payment services, with only 27 payment service providers (PSPs) licensed as of January 2024 1. Ant International would likely need SAMA authorization to link Alipay+ which is its cross‑border payments and marketing platform that connects multiple mobile wallets with mada, Saudi Arabia’s national payment network, by 2026.
The MoU doesn’t say whether Ant International or WorldFirst (Ant International’s cross‑border payments and foreign exchange platform for businesses) or Alipay+ hold SAMA licenses or have applied.
No confirmed approval makes the 2026 mada timeline a goal, which adds risk.

Payment service providers can capture Chinese tourist spending ahead of the mada integration

SAMA‑licensed payment gateways (software that routes transactions), acquirers (merchant payment processors), and point‑of‑sale providers can join as Alipay+ acquiring partners 1 2. This lets Saudi merchants take payments from Chinese and Asian wallet users before 2026 mada integration.
Alipay+ connects merchants to over 1.8 billion consumers through multiple wallet providers 3. It also offers acquiring service provider partnerships 4 with clearing and settlement processes (the movement of funds after a transaction) 5. Saudi payment service providers (PSPs) such as Network International Arabia (POS services) and Buraq (e‑wallet services) 1 can pursue ties to capture inbound tourism spend 5 4.
Early certification suits independent software vendors (ISVs) that build merchant software, as well as payment integrators that connect checkout systems to processors. Those partners can serve Saudi merchants on Chinese tourists and cross‑border e‑commerce before the market crowds after mada integration.