Saudi-Qatar to use Mada and Hayman at Money20/20 Middle East

The article focused on the announcement of an agreement between the Saudi Central Bank and the Qatar Central Bank, which allows the holders of "Mada" and "Himam" cards to use them seamlessly and securely in Saudi Arabia and Qatar. This announcement was made during the Money20/20 Middle East Conference in Riyadh. It also highlighted the rapid growth of the fintech sector in the Kingdom, which now includes 371 companies and has seen investments exceeding 30 billion riyals by the end of the first half of 2026. Additionally, there is a rising reliance on electronic payments, which now account for more than 85% of retail transactions. Furthermore, it was announced that "Barq" raised $329.5 million, and that payment acceptance services for merchants in Saudi Arabia are now accessible through the Network International platform. The discussion also covered the future of the sector, investment attraction factors, the importance of building trust, and the roles of artificial intelligence and governments in developing the financial system.

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