Salt Edge Partnered with SeaPay to Provide Open Banking Solutions to Empower Merchants in Saudi Arabia

SeaPay, an Omni-Channel Payment Solutions provider, has forged a strategic partnership with Salt Edge, a renowned financial technology firm, to promote digital technology and open banking in Saudi Arabia. This collaboration aims to deliver innovative open banking solutions to local merchants in alignment with the Saudi Central Bank's vision for a thriving business ecosystem.

The adoption of open banking in Saudi Arabia has gained momentum, with various stakeholders, including the Saudi Central Bank (SAMA), actively promoting it. SAMA recognizes the significance of open banking in supporting local businesses and has been actively developing a comprehensive regulatory framework. This proactive approach has already attracted strong fintech players and fostered fruitful partnerships.

The partnership between Salt Edge and SeaPay highlights the transformative potential of financial technology. SeaPay, building on its heritage as the Arab Sea Information System, is committed to providing secure digital payment solutions for local merchants. Through this partnership, SeaPay will enable merchants to access financial data from numerous banks across the Middle East and globally through a single API, eliminating the need for individual connections with multiple banks and simplifying the payment process.

"As SeaPay’s Chief Business Officer, I am thrilled to announce our partnership with Salt Edge, a global leader in open banking solutions. This collaboration marks a significant milestone in our mission to empower Saudi Arabian merchants with cutting-edge payment solutions. With the trusted legacy of the Arab Sea Information System, we are confident that this partnership will revolutionise how businesses in our region handle payments and financial transactions. Together with Salt Edge, we look forward to fostering the growth and success of local businesses in Saudi Arabia," commented Turki Aldhamsht, Chief Executive Officer at SeaPay.

"The opportunity to embark on this open banking journey in Saudi Arabia with a remarkable partner such as SeaPay provides Salt Edge with tremendous motivation to unlock the limitless potential of this phenomenon. It is our firm belief that this collaboration will have a significant impact on Saudi Arabia’s merchant ecosystem, " added Ilia Dragan, Chief Product Officer at Salt Edge.