RIYADH: Businesses in King Abdullah Financial District are poised for advanced digital payment access with card service provider Visa joining the Riyadh economic hub, reinforcing global economic connections. 

Visa is an internationally recognized compay in the sector, facilitating transactions between consumers, merchants, financial institutions and government entities across numerous countries and territories. 

KAFD announced the news in a post on X saying: “We’re happy to welcome Visa to our financial district as part of the KAFD business community, as it helps power the global economy by connecting businesses, banks and governments in more than 200 countries and territories worldwide.” 

Following its acquisition by Saudi Arabia’s Public Investment Fund, the district has evolved to become a prime business and lifestyle destination capturing the core values of Vision 2030.  

KAFD provides businesses access to advanced office infrastructure and sustainable smart city solutions, while simultaneously offering leisure and retail facilities. 

The deal with Visa is the latest collaboration between Saudi Arabia and the company, with past agreements including the establishment a first-of-its-kind tourism data lab in May 2023 to provide travel trends insights. 

The Saudi Tourism Authority inked a memorandum of understanding with the financial services company to explore innovative ways to enhance the visitor experience and advance the Kingdom’s hospitality industry.  

The partnership was supported by the payment database VisaNet, which delivers a variety of data on incoming tourists and substantial information on how governments can maximize their cashless approach, a press release noted at that time.  

The collaboration is in line with Saudi Arabia’s National Tourism Strategy, which seeks to attract 150 million visitors by 2030.