Akurateco has partnered with DineroPay, a Saudi Arabian payment service provider, to enhance mobile payments in the region.
The collaboration introduces Apple Pay and Google Pay to local businesses and consumers, supporting the country’s rapid transition toward digital-first financial solutions.
On-premises payment infrastructure hosted on Oracle Cloud
Akurateco and DineroPay have launched a new on-premises payment infrastructure hosted on Oracle Cloud, ensuring full compliance with Saudi Arabian Monetary Authority (SAMA) regulations. The system is designed to provide scalability and performance optimization as DineroPay expands operations while maintaining a secure, regulated payment environment.
The partnership comes as Saudi Arabia’s mobile payments sector grows, with a market value of $24.7 billion in 2024, according to IMARC Group. The industry is projected to expand at a compound annual growth rate of 10.3% through 2033, reflecting increased consumer demand for digital transactions.
“Partnering with Akurateco enables us to deliver an enhanced, secure mobile payment experience that aligns with Saudi Arabia’s financial ecosystem,” said a DineroPay spokesperson. “With the expansion of digital payments, businesses and consumers benefit from solutions that prioritize convenience, security, and regulatory compliance.”
The new system integrates network tokenization technology, which replaces sensitive card details with secure tokens. The approach enhances security, minimizes fraud risk, and increases approval rates for mobile transactions. Businesses using DineroPay’s platform can now optimize payment flows and ensure that customer data remains protected.
“Akurateco’s white-label gateway has enabled DineroPay to deploy flexible, compliant payment solutions that meet the region’s evolving needs,” said a spokesperson from Akurateco. “By leveraging advanced security features and regulatory alignment, we’re providing a system that supports the growing demand for mobile-first financial services in Saudi Arabia.”
Akurateco and DineroPay aim to empower businesses with digital solutions that improve transaction efficiency, enhance security, and provide consumers with accessible, seamless mobile payment options.
Centroid Solutions established connectivity to Saudi markets
In the meantime, Centroid Solutions integrated with Aljazira Capital to enable its clients to tap into trading opportunities across Saudi Arabia’s key financial markets, including equities, fixed income, and other financial instruments available through Aljazira Capital’s extensive platform.
The move allows Centroid to further expand its footprint in the Middle East. The provider of multi-asset connectivity, risk management, and execution solutions for financial institutions and broker-dealers previously launched connectivity to the Saudi Exchange (Tadawul) via Saudi brokerage firm SNB Capital.
Adding Aljazira Capital to its network further expands Centroid’s regional capabilities as demand for those markets continues to grow. The wholly owned subsidiary of Bank AlJazira is a premier brokerage & Asset Management firm in Saudi Arabia and is licensed by the Saudi Arabian Capital Market Authority.
Source: https://financefeeds.com/akurateco-and-dineropay-expand-mobile-payments-in-saudi-arabia/