Digital payments giant Visa has created a new dedicated region comprising Saudi Arabia, Bahrain, and Oman, a strategic move designed to accelerate digital payment growth and align closer with national government priorities for digital transformation.
As part of this restructuring within its Central and Eastern Europe, Middle East and Africa (CEMEA) operations, Visa has appointed Ali Bailoun as group country manager to lead the new cluster. Based in Riyadh, Bailoun will oversee operations across the three markets, bringing over 20 years of experience in payments and banking to the role.
Aligning with national agendas
The organisational change builds on Visa’s 40-year presence in the region and is intended to enable the company to be closer to its clients and stakeholders. By establishing this focused region, Visa aims to better support financial institutions (FIs), fintechs, and merchants in innovating and scaling their operations.
Tareq Muhmood, regional president of CEMEA at Visa, described the evolution as a key part of the strategy to deliver “greater agility and client proximity”. He noted that Saudi Arabia, Bahrain, and Oman are among the most dynamic markets in the region, and the new leadership structure will ensure the continued creation of value for economies and consumers.
The move follows significant infrastructure investments by Visa in the region, including the unveiling of a new office and Innovation Center in Riyadh over the past year. Additionally, the company is now hosting the Visa Acceptance Platform on a local cloud in Saudi Arabia to support the growth of e-commerce.
Closing in on Cashless Targets
A primary driver for this realignment is the support of ambitious national economic goals, such as Saudi Arabia’s Vision 2030. Ali Bailoun commented that he is honoured to lead the new region and work with partners to support national agendas for innovation.
“Saudi Arabia’s Vision 2030 sets an ambitious target of achieving 80 per cent cashless transactions, and the Kingdom is already at 79 per cent today,” Bailoun said. He added that this progress reflects the scale of transformation underway, and Visa is proud to play a role in enabling secure, seamless payment experiences that help businesses thrive.
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