Visa has announced the continued expansion of its Visa Direct ecosystem in Saudi Arabia, working with financial institutions including alrajhi bank, Alinma Bank and Saudi Awwal Bank (SAB) to support faster and more seamless domestic and cross-border money transfers.
Visa Direct enables participating banks, fintechs and payment providers to facilitate money transfers to eligible cards, accounts and wallets worldwide through Visa’s global network. Visa said Visa Direct card transaction volume 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 continue to play an important role in Saudi Arabia. Visa’s Money Travels: 2026 Digital Remittances Adoption Study, conducted by Morning Consult among 1,117 adults in Saudi Arabia between February 24 and March 2, 2026, found that eight in 10 remitters send money multiple times a year.
The study also found that 54% of remitters in Saudi Arabia use online banking or a bank’s mobile application to send remittances. Security remains a concern, with one in four remitters reporting that they have experienced a scam across remittance channels. Hidden fees and undelivered goods were identified as the most common tactics.
Family and cultural obligations were cited by 45% of respondents as their primary reason for sending or receiving money internationally. The study also found that 45% of respondents had sent money internationally, while 30% had received money from abroad.
The announcement follows Visa’s participation at Money20/20 Middle East, where the company engaged with financial institutions, fintechs, regulators and industry leaders on payments, cross-border money movement and digital commerce across the region.
Visa said the expansion forms part of its efforts to support digital money movement in Saudi Arabia as consumers and businesses increasingly adopt electronic payment and remittance channels.
