RIYADH: Saudi Arabia’s fintech sector grew to 371 companies as of August, the Saudi Central Bank Governor has revealed, as the Kingdom pushes ahead with its digital payments and financial technology agenda.  The latest figure, announced by Ayman Al-Sayari at Money20/20 Middle East in Riyadh, represents a 23 percent increase from the 301 companies reported by Fintech Saudi in May.   This underscores the rapid expansion of the Kingdom’s fintech ecosystem across payments, insurance tech, digital banking and alternative investments.  The National Fintech Strategy aims to increase the number of active companies in the sector to 525 by 2030, as Saudi Arabia seeks to deepen financial innovation and expand digital financial services.  In his address, the SAMA governor said: “The fintech sector witnessed exceptional growth, achieving development and expansion in innovative activities and solutions, as the total number of fintech companies in the Kingdom reached 371 by the end of August this year. “These indicators reflect the strength and scale of the fintech sector in the Kingdom and the efforts made in this regard. “The Kingdom is witnessing notable development and accelerated growth in the adoption of electronic payment methods, with the share of electronic payments reaching 85 percent of total payment transactions executed in the retail sector by the end of 2025." The governor also noted that electronic payments accounted for 85 percent of retail payments in Saudi Arabia in 2025, a figure he cited as evidence of the Kingdom’s accelerating shift away from cash under its Vision 2030 digital transformation agenda.  Money20/20 Middle East, being held in Riyadh from Sept. 14-16, is expected to attract more than 38,000 attendees, 350 brands and over 600 investors, reflecting the growing scale of Saudi Arabia’s financial-technology industry.  Saudi, Qatar payment networks expand  At the event, Al-Sayari witnessed the announcement of an agreement to enable the acceptance of mada and HIMYAN cards for national payment transactions in Saudi Arabia and Qatar, expanding interoperability between the two countries’ domestic payment networks.  The move follows Qatar Central Bank’s efforts to expand HIMYAN’s regional reach. The Qatari national payment card was accepted in Kuwait in December 2025 and Bahrain in June, supporting greater integration of digital payment systems across the Gulf.  HIMYAN is Qatar Central Bank’s national payment card and the first national payment card under a Qatari brand.