Barq seals three strategic alliances during Day 1 of Money 20/20 Middle East
Barq, a digital payments application, made a significant impact at the recent Money 20/20 Middle East conference in Riyadh. On the first day of the event, Barq signed three strategic agreements, marking a significant step forward in its mission to provide exceptional products and innovative solutions.
The Saudi financial sector is undergoing a rapid transformation towards a cashless digital economy, and Barq is eager to play a leading role in this transition. With over 8 million users in its first year and having processed over 150 million transactions, Barq has already established itself as a key player in the digital payments landscape.
One of the agreements Barq signed was with Thunes, a global cross-border payments provider. Represented by Thamer Alharbi, director of international partnerships, and Ahmed Yaqoub, vice president of business development, the partnership aims to expand Barq's reach and position it as a leading digital wallet. Ahmed Yaqoub, who also represented Thunes in the three strategic agreements signed by Barq, expressed his excitement about the partnership, stating that it will enable Barq to offer its users a seamless cross-border payment experience.
Another agreement was with OneCard, a fintech company. Represented by Basel Alhussan, director of product factory, and Omar Al-Refaie, senior sales director, the partnership will allow Barq to offer its users a wider range of financial services.
Barq also signed a Memorandum of Understanding (MoU) with Moysar, a Saudi fintech company. The MoU, signed by Muath Alsadhan, general manager of partnerships at Barq, and Mishari Al-Faryan, chief operating officer at Moysar, will see the two companies collaborate on various projects to further strengthen Barq's position in the Saudi market.
Barq's participation in Money 20/20 Middle East showcases the development of the fintech sector and the support it receives from Saudi leadership. By signing these strategic agreements, Barq is demonstrating its commitment to empowering individuals and offering services that meet their aspirations, always staying a step ahead in the rapidly evolving digital payments landscape.
With over 500 million payment transactions recorded and over 6.5 million digital cards issued, Barq is well on its way to achieving its goal of providing exceptional products and innovative solutions to reach a strong position in the Saudi market. The agreements signed at Money 20/20 Middle East are a testament to Barq's success and its position as a leading provider of innovative digital payment solutions.
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