Riyadh – Mubasher: Etihad Fintech Company (Mobily Pay), a wholly owned subsidiary of Etihad Etisalat Company (Mobily), concluded its participation in Seamless Saudi Arabia 2023 with the signing of four memoranda of understanding (MoU) with local and international entities.

Mobily Pay penned an agreement with Huawei under which the Saudi company’s portfolio will be added to the App Gallery. The collaboration also aims to help the telecom company reach more customers.

The fintech arm of Mobily signed another MoU with the Saudi Quara Finance, which offers Sharia-compliant products and financing solutions. Upon the deal, a new financing product will be added to the portfolio in addition to offering a buy-now-pay-later (BNPL) service to the customers.

Mobily Pay also entered into an agreement with Saudi technology company Mozn, which harnesses the power of artificial intelligence (AI) to innovate and create products and solutions for the advancement of digital humanity. The partnership is expected to endorse security services and help with revealing fraud systems.

The fourth MoU was concluded with Ekhaa Charity of Orphans Care Foundation, as part of Mobily Pay’s community participation, to allow more payment gateways for charities to its app users.

CEO of Mobily Pay, Ayman Al Eissa, expressed his appreciation for the company’s participation at Seamless Saudi Arabia 2023 and the signed agreements which all aim at presenting a seamless, reliable experience to the beneficiaries.

Al Eissa added that Mobily Pay will continue to invest in the fintech sector in Saudi Arabia, noting that the industry has witnessed significant jumps in its growth in line with the national plan to develop the fintech segment in the Kingdom, which is part of the Saudi Vision 2030.

The two-day event was in Riyadh during 4-5 September, with Mubasher being its media partner.

A different event took place in the Saudi capital, the 2023 Huawei Cloud Summit Saudi Arabia, which witnessed the launch of Huawei Cloud Riyadh Region which covers existing carriers' networks, including the parent company Mobily.