Ant International, a leading global digital payment, digitisation and financial technology provider, has opened a new office location in the central business district of Al-Olaya, Riyadh, Kingdom of Saudi Arabia (KSA), following its successful technical certification as a c(PTSP) from Saudi Central Bank (SAMA).
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With the new office launch, Ant International will work more closely with local partners in the payment ecosystem to provide innovative payment solutions and inclusive financial services to local acquirers and merchants, especially SMEs doing business in KSA to empower their sustainable growth. This move also positions Riyadh as a hub for international businesses looking to initiate operations in Saudi Arabia, further enhancing its role as a key player in the global business landscape.
Antom is one of Ant International’s business pillars, a unified digital payment solution for merchants. Antom will start operation in the local market later this year, enabling e-commerce acquirers and local merchants to achieve new growth, while aligning with the economic priorities which SAMA has laid out for the Kingdom.
Leiming Chen, Senior Vice President and Chief Sustainability Officer of Ant International, said: “The opening of our Riyadh office represents a significant milestone for Ant International in the Middle East, and strong commitment from Ant International to contribute to the economic growth of the Kingdom of Saudi Arabia – with the creation of local fintech jobs, inclusion initiatives and a boost to digital transformation in the region.
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“Under the continued support and guidance of SAMA and the Ministry of Investment (MISA), we’ve taken our first steps to support businesses of all sizes across the Kingdom of Saudi Arabia by offering digital inclusion, and we plan to bring Ant International’s innovative business pillars to the Kingdom in time. We greatly value the strong, dynamic payment market in Saudi Arabia, which has been shaped by SAMA’s progressive policies and the Kingdom’s vibrant economy, providing a great environment for innovation and sustainable growth.”
Antom has established local acquiring capabilities across more than 40 markets. It enables merchants to seamlessly integrate with hundreds of payment methods – including credit and debit cards, online banking and digital wallets – and facilitates transactions in over 100 currencies. It also customises payment solutions to meet the distinct needs of various industries.
In the future, Antom payment services, including its advanced payment gateway solution, will support local businesses operating in the Kingdom of Saudi Arabia via innovative technologies. It seeks to enhance merchants’ operations through AI-routed payment orchestration, LLM-powered merchant services and advanced security measures. These solutions aim to reduce costs, improve efficiency and transaction security, and streamline foreign exchange risk management. Additionally, companies will be able to refine customer targeting by utilising Antom’s digital marketing tools and privacy-computing solutions.
“Ant International’s entry into KSA with Antom payment services aligns closely with the priorities of SAMA, providing stability and consumer protection, supporting KSA consumers to buy safely and conveniently through digital payment methods, and growing KSA’s fintech sector through the creation of local jobs and talent inclusion programs,” said Mr. Chen.
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Source – PR Newswire
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