Telr, a leading online payment gateway provider, has announced a strategic partnership with Saudi Awwal Bank (SAB), one of the Kingdom of Saudi Arabia’s most prominent financial institutions. The collaboration marks a significant milestone in advancing the Kingdom’s digital economy by delivering cutting-edge payment services tailored to the needs of modern merchants and businesses.
This partnership is aligned with Saudi Arabia’s Vision 2030, which outlines the nation’s roadmap toward a cashless society and a more diversified, tech-driven economy. By integrating Telr’s innovative payment technology with SAB’s robust banking infrastructure, the partnership aims to significantly enhance the speed, security, and reliability of digital transactions across the Kingdom.
As Saudi Arabia continues to position itself as a regional leader in digital commerce, Telr is expanding its footprint through such strategic collaborations. The integration between Telr and SAB will allow merchants to benefit from an extensive suite of digital payment tools including payment links, QR codes, recurring billing, digital invoicing, Buy Now, Pay Later (BNPL) solutions, and proprietary technologies. These tools are designed to improve merchant efficiency, boost customer conversion rates, and offer greater flexibility in managing payments.
Furthermore, Telr’s platform supports over 120 currencies and 30 languages, enabling effortless cross-border transactions. With a strong focus on localisation and compliance, the company ensures its services meet the regulatory standards and customer expectations within the Saudi market.
Khalil Alami, Founder and CEO of Telr, emphasized the company’s commitment to fostering business growth through innovation:
“Telr is committed to equipping businesses with innovative payment solutions that drive growth and efficiency. This collaboration improves conversion rates and strengthens Saudi Arabia’s digital economy.”
Yasser Al-Barrak, Chief Executive of Corporate and Institutional Banking at SAB, echoed this sentiment, highlighting the importance of supporting SMEs:
“Our goal is to empower SMEs with financial solutions that meet their evolving needs, helping them expand in the marketplace and achieve their objectives. Our partnership with Telr represents a significant step toward that goal.”
He added: “SAB remains dedicated to fostering a dynamic business environment by offering services aligned with our customers’ aspirations and keeping pace with rapid advancements in digital payments, in line with the Financial Sector Development Program under Saudi Vision 2030.”
As Telr continues to build its banking network within the Kingdom, it positions itself as a key player in enabling Saudi Arabia’s digital commerce transformation. With an expanding portfolio of secure, scalable, and locally compliant solutions, Telr is helping to drive the nation closer to a fully cashless future.
—————————————————————————————————
About Innovation Streets:
Welcome to InnovationStreets.com! Get the latest insights from the finance and technology industries. Discover industry updates on fintech innovations, regulatory developments, industry insights, events, and collaborations between banks, insurers, and fintechs. A platform for C-level executives to submit thought leadership content for their peers. Subscribe for updates!
