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Visa Direct Gains Momentum in Saudi Arabia

Visa is expanding its Visa Direct digital money transfer services in Saudi Arabia through partnerships with financial institutions including Al Rajhi Bank, Alinma Bank and Bank Alawwal.

The initiative aims to provide consumers and businesses with faster, more secure and convenient ways to transfer money as demand for digital remittance solutions continues to increase.

Visa Direct transaction volumes in Saudi Arabia grew by more than 50% year over year. Across Saudi Arabia, Bahrain and Oman combined, transaction volumes on the platform increased by more than 300% over the same period, highlighting the growing adoption of digital transfer services among financial institutions.

Visa Direct Supports Domestic and Cross-Border Transfers

Visa Direct enables participating banks, fintech companies and payment service providers to send domestic and international transfers to eligible cards, bank accounts and wallets around the world through Visa’s global network.

The service supports payment settlement for individuals and businesses making transactions within local markets or dealing with recipients and partners abroad.

The expansion comes alongside Visa’s release of findings from the 2026 “Money Movement: Digital Remittances Adoption Study,” conducted by Morning Consult on behalf of Visa.

The Saudi Arabia portion of the research surveyed 1,117 adults between February 24 and March 2, 2026. The broader study covered 20 international markets and examined consumer behavior and preferences surrounding cross-border money transfers, including digital payments and stablecoins.

Digital Banking Becomes the Preferred Transfer Channel

The study found that eight in 10 remittance users in Saudi Arabia conduct money transfer transactions several times a year.

Meanwhile, 54% of consumers rely on online banking services or mobile banking applications to send money, making digital channels the most widely used method for transferring funds.

The findings also highlighted concerns around payment security. One in four consumers in Saudi Arabia said they had previously experienced fraud.

Hidden fees and non-delivery of goods were among the most common types of fraud identified by the study.

Family and Cultural Commitments Drive Remittances

The research showed that 45% of respondents identified family and cultural obligations as the main reason for sending or receiving money internationally.

Overall, 45% of participants had previously sent money outside Saudi Arabia, while 30% had received transfers from abroad.

The figures point to the importance of cross-border money movement within consumers’ financial activity in the Saudi market.

Visa Sees Growing Demand for Seamless Money Transfers

Ali Bailoun, Senior Vice President and General Manager of Visa in Saudi Arabia, Bahrain and Oman, said consumers increasingly expect money transfers to be as seamless as everyday payments.

He added that Visa is working with banks, fintech companies and payment service providers to broaden access to trusted money transfer solutions as digital adoption accelerates across Saudi Arabia.

Visa presented the study findings following its participation in Money20/20 Middle East, where company executives, financial institutions, fintech firms and regulators discussed the future of payments, cross-border transfers and digital commerce across the region.