LONDON–(BUSINESS WIRE)–Allied Wallet, a global FinTech company offering various payment solutions in 196 countries, is servicing more users in Saudi Arabia, e-commerce’s 7th fastest growing country, by accepting more preferred payment options.
As e-commerce continues to grow, more countries are finding opportunity in it not only for their citizens and potential business owners, but for their economy as a whole.
While Saudi Arabia’s economy has been heavily dependent on oil, they are finding new ways to diversify their economy according to Value Walk’s article, “Top 10 Fastest Growing Ecommerce Markets in the World.”
Its e-commerce sector is growing at a 32% annual rate, and they are expected to have over 19 million online shoppers by 2022.
About 64% of Saudi Arabia’s 32.28 million population shop online and the average user spends about 3 hours and 25 minutes on the internet every day.
“The people of Saudi Arabia want to shop online. They crave fashion goods, electronics, and media. We want to give them a better ability to purchase these things,” said Allied Wallet Founder Andy Khawaja.
He added, “…beyond that, we want to give them a better ability to generate their own income and become business owners by bringing their goods, services, and products online. This is why we’re working hard to make sure their preferred payment options are supported.”
They hope that, along with the support of Saudi Arabian growth programs and new regulations, they will be able to help Saudi Arabia continue this trending growth and make them less dependent on oil for a thriving economy.
About Allied Wallet:
Allied Wallet continues to revolutionize the e-commerce industry by introducing new and innovative payment processing solutions for online merchants, enabling them to send and receive global payments. With PCI compliant merchant services for nearly any business size, Allied Wallet provides a state-of-the-art payment gateway to optimize online transactions. Please visit www.alliedwallet.com.