Visa has expanded its Visa Direct ecosystem in Saudi Arabia through collaborations with financial institutions including alrajhi bank, Alinma Bank and Saudi Awwal Bank (SAB), supporting faster domestic and cross-border money transfers.
Visa Direct Expansion Targets Growing Digital Remittance Demand
Visa Direct enables participating banks, fintech companies and payment providers to send money to eligible cards, bank accounts and wallets globally through Visa’s payment network. Visa said transaction volumes through Visa Direct cards in Saudi Arabia increased by more than 50% year over year, while card transaction volume across the KBO region grew by more than 300%.
The expansion comes as digital remittances remain an important part of Saudi Arabia’s financial ecosystem. According to Visa’s Money Travels: 2026 Digital Remittances Adoption Study, conducted by Morning Consult, eight in 10 remitters in Saudi Arabia send money internationally multiple times a year.
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The study found that 54% of remitters use online banking or their bank’s mobile application to send remittances. However, security remains a concern, with one in four respondents saying they had experienced a scam through remittance channels. Hidden fees and undelivered goods were identified among the most common tactics.
Family Support Drives International Transfers
Family and cultural obligations were identified by 45% of respondents as their main reason for sending or receiving money internationally. The research also found that 45% of respondents had sent money abroad, while 30% had received money internationally.
“As digital adoption continues to accelerate across Saudi Arabia where consumers increasingly expect sending and receiving money to be a seamless as making a payment, we are working closely with banks, fintechs, and payment providers to expand access to trusted money movement solutions. The continued growth of Visa Direct reflects both the strength of our infrastructure and the increasing demand for faster, more secure, and more convenient ways to move money.”
–Ali Bailoun, Senior Vice President and Group General Manager for Saudi Arabia, Bahrain, and Oman, Visa
The announcement follows Visa’s participation at Money20/20 Middle East, where the company engaged financial institutions, fintechs, regulators and other industry stakeholders on payments, cross-border money movement and digital commerce. Visa said the expansion supports its broader efforts to strengthen digital money movement in Saudi Arabia as consumers and businesses increasingly adopt electronic payment and remittance services.
