Saudi Arabia Ecommerce News

Recent industry report about Saudi Arabia Ecommerce company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Saudi Arabia Ecommerce Market industry experts.

Saudi Arabia Ecommerce News

  • October 2024: Mastercard has implemented a new technology infrastructure in Saudi Arabia, enabling local processing of e-commerce transactions. The firm states that this system is designed to offer secure and efficient payment services for both Mastercard partners and consumers. Furthermore, it aligns with the Kingdom’s ambition to broaden its digital commerce landscape.
  • September 2024: TBS Holding, a company specializing in the food industry, announced its plans to establish new partnerships in Africa and Saudi Arabia to enhance e-commerce. The company's participation in Seamless 2024 aims to engage with other companies, explore new customer segments, and focus on artificial intelligence technologies in e-commerce services amidst the evolving landscape in the Middle East and Africa. This focus on supporting digital transformation and e-commerce services will boost the company's profitability.
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  • November 2024: Iana Dixon launched monthly SEO packages specifically designed for service-oriented and local businesses. These packages aim to help businesses achieve their objectives, enhance their online visibility, generate leads, and foster customer trust and loyalty. Beginning November 25, 2024, these monthly SEO and strategy development services will be exclusively offered on the official website, ianadixon.com. Through meticulous research and analysis, clients will benefit from a tailored, data-driven SEO and content marketing strategy, a detailed implementation roadmap, and expertly crafted, search engine-optimized content.
  • June 2024: Apryl Beverly, a seasoned copywriter whose work has driven $3 billion in revenue for online brands, has unveiled Aipro (pronounced Ay-pro). Aipro, a culturally attuned AI copywriter, crafting marketing content that strikes a chord with diverse, multicultural audiences, thereby enhancing visibility, sales, and profitability for businesses.
  • March 2024: Edward Andrews Copywriting Services, a premier provider of copywriting and content strategy solutions based in Brisbane, is excited to announce the launch of its newly redesigned website. This significant digital upgrade marks a pivotal moment in the company's mission to offer enhanced service accessibility and a streamlined user experience to clients worldwide.
  • October 2024: Amazon launches rapid grocery delivery from Metropolitan Market and expands Weis Markets tie up. It is also expanding its existing grocery delivery service with Weis Markets to six additional stores in Pennsylvania, New Jersey, and New York (Hillsborough, NJ, Doylestown, PA, York, PA, Lititz, PA, Milton, PA, and Binghamton, NY).
  • August 2024: Indian online grocery delivery app, Zepto, has secured USD 340 million in a follow-on financing round, placing the company at a USD 5 billion in valuation following its previous fundraise in June 2024.
  • October 2024: Cryptocurrency exchange Coinbase is expanding its business in B2B payments. Coinbase Prime is a brokerage platform that facilitates trades, custody and prime services, according to the platform’s website. Stablecoins can make B2B payments and treasury management faster, cheaper and more efficient because they settle instantly, including across borders.
  • September 2024: Kriya, a provider of B2B payment solutions, has launched an integration with Stripe, a financial infrastructure platform for businesses. Businesses using Stripe in the UK will be able to offer flexible payment terms to their customers through Kriya, enhancing their payment options. This integration is positioned as the first time B2B merchants in the UK using Stripe can access Kriya's payment solutions.
  • October 2024: Emirates NBD, a banking group in the MENAT (Middle East, North Africa, and Türkiye) region, has entered into a strategic agreement with Partior. This partnership will explore participation in their blockchain-based clearing and settlement platform, a collaboration that will offer Emirates NBD’s clients 24/7 availability and faster, more seamless payment flows.
  • October 2024: Temenos launched a SaaS enterprise service for cross border payments, empowering Payment Service Providers (PSPs), including banks, electronic money institutions (EMIs) and fintechs, to swiftly launch and lower the cost of cross border payment services.
  • September 2024: PayPal launched "PayPal Complete Payments," an all-in-one platform tailored for Chinese merchants aiming to sell globally. This platform simplifies payment and receivables processes for businesses of all sizes in China, enabling them to excel in cross-border trade and the digital economy. Engaging with over 700 merchants nationwide, PayPal's global and China management teams, alongside partners, shared insights on international and local business strategies, cross-border payment solutions, industry trends, and targeted initiatives to bolster growth for Chinese merchants.
  • June 2024: Adyen, the preferred financial technology platform, partnered with SumUp, a financial technology provider for small merchants. This strategic alliance aims to deliver an unparalleled payment experience and expedited settlements to millions of small businesses globally. SumUp is enhancing its near-instant settlement feature, previously exclusive to its merchants, through this collaboration. This advantage extends to millions of small and micro merchants across Europe and the UK, granting them quicker access to funds and greater control over their financial affairs.
  • September 2024: Paypal Holdings Inc. expanded its global strategic partnership with Shopify Inc. in the United States. As part of this collaboration, PayPal will serve as an additional online credit and debit card processor for Shopify Payments. This integration utilizes PayPal Complete Payments, a robust solution tailored for marketplaces and platforms, equipped with versatile developer tools. Furthermore, in a bid to enhance user experience, PayPal wallet transactions will now seamlessly integrate into Shopify Payments in the United States. This integration aims to simplify the management of orders, payouts, reporting, and chargeback processes.
  • February 2024: Finix, a San Francisco-based FinTech company, introduced its business payments solution to the Canadian market. With this launch, Finix seeks to empower businesses of all sizes to efficiently process payments and manage money transfers. The solution boasts features such as embedded compliance, underwriting, fraud monitoring, reporting, and dispute management, all designed to enhance businesses' insights into their transaction-level data.
  • July 2024: Bandhan Bank launched its latest payment solution through the Bharat QR Code for its Current account and Savings account customers. The bank claimed that the solution will simplify how these self-employed segment customers make payments at any merchant outlet. An instant notification will also be received on every payment through a small speaker.
  • June 2024: Flowcode, a marketing technology platform, unveiled a reimagined product designed for marketing and analytics teams at F1000 companies focused on measuring and maximizing offline conversions. Flowcode integrates seamlessly with data feeds, such as product catalogs, MLS listings, and more, to automate the creation of personalized, QR-enabled user journeys. This empowers brands to deliver unique, tailored consumer experiences, significantly increasing conversion rates.
  • May 2023: Revel Systems, the premier cloud point of sale (POS) and comprehensive business management platform is excited to announce a partnership with IPORT to offer its best-in-class products to restaurants and retailers. IPORT's stands and enclosures for Apple iPads streamline networking, charging, tablet protection, and presentation
  • February 2023: NPN and Oddle's Partnership is Revolutionizing Restaurant Payment. Together, they are simplifying the point-of-purchase experience for restaurants and empowering them to grow their businesses. With their shared focus on providing cutting-edge hardware and software solutions, NPN and Oddle are transforming how restaurants process payments. By leveraging SUNMI Android payment hardware and stripe payment processing, they deliver a seamless and secure payment experience for restaurants and their customers.
  • May 2023 - Etoro announced the launch of InsuranceWorld, a portfolio offering retail investors long-term exposure to the insurance sector. InsuranceWorld is a new addition to eToro's existing offering of portfolios, which already provides exposure to traditional financial sectors, such as private equity, big banks, and real estate trusts.
  • April 2023 - Twitter, a US-based company, partnered with the cryptocurrency exchange eToro to allow users to trade stocks, cryptocurrencies, and other assets on the social network's platform by using the online platform services offered by eToro, which would generate new revenue streams for the market vendors.
  • May 2023: Motorola Solutions announced the launch of its advanced V700 body camera with mobile broadband capabilities to give public safety agencies another critical source of real-time field intelligence and collaboration. Critical evidence might be recovered after an incident even if a recording was not initiated through the Record-After-The-Fact feature. AI may be applied during evidence analysis to transcribe footage for a clear record of events.
  • April 2023: Axon Enterprise Inc. announced the launch of an advanced body-worn camera (BWC), the Axon Body 4 (AB4). The product is a communications beacon that enables law enforcement to live stream their situations intuitively.

Saudi Arabia E-Commerce Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)