Coming Soon: Paymes Features Designed for Saudi’s Digital Growth

Saudi Arabia’s digital economy is on an ambitious path, with SMEs expected to play a crucial role in achieving Vision 2030 targets. As these businesses evolve, their financial tools need to keep pace. Paymes is developing capabilities specifically designed to meet these future needs.

Financial Solutions for Saudi SMEs
Access to capital remains a key challenge for many Saudi businesses. Paymes is working on financing options that acknowledge the realities of running a business in KSA – from inventory purchases ahead of peak seasons to bridging gaps between invoice issuance and payment.

These planned features aim to provide more flexibility than traditional financing, with special attention to Sharia-compliance – an essential consideration for many Saudi entrepreneurs. The goal is to create options that feel tailored rather than imported.

Powering Saudi’s Social Commerce Boom
Saudi Arabia’s creator economy is flourishing, with millions of content producers turning their influence into businesses. Paymes’ upcoming tools aim to help these entrepreneurs monetize their work more effectively – whether through tipping features, paid content, or streamlined merchandise sales.

For traditional businesses, these same capabilities can transform social media presence into sales channels. Imagine a Jeddah-based fashion designer taking orders through Instagram stories, or a Medina date supplier accepting payments directly through TikTok videos.

Upcoming Features to Transform Saudi Business Operations

1. Paymes Card Issuance

Solving Saudi Pain Points:

• Financial Inclusion: Enable businesses without traditional bank accounts to access card payments
• Instant Access: Load funds directly to virtual/physical cards for immediate use
• Use Cases:
  • Freelancers receiving international client payments
  • Pop-up shops needing temporary payment cards for staff

Market Context:

• 23% of Saudi micro-businesses remain unbanked (SAMA 2023)
• Prepaid card usage grew 41% YoY (KSA Central Bank)

2. Cross-Border Remittances

Designed for Saudi’s Expat Economy:

• Competitive exchange rates for popular corridors (India, Pakistan, Egypt)
• Integration with existing Paymes balances
• Key Advantage:
  • Send remittances directly from business earnings without bank transfers

Saudi Relevance:

• KSA is world’s 2nd-largest remittance sender ($45B annually, World Bank)
• 35% of SMEs have expat employees needing payroll solutions

3. Payroll Management

Streamlining Saudi Workforce Payments:

• Auto-calculate Wages, Taxes, and Benefits
• Batch payments to employees and contractors
• Compliance Ready:
  • Aligns with Saudi wage protection systems
  • Generates WPS-compliant payment files

4. B2B Transfer Solutions

Fueling Saudi’s Business Ecosystem:

• Instant business-to-business settlements
• Bulk payment capabilities for suppliers/vendors
• Security Features:
  • Multi-approval workflows for large transfers
  • Verified beneficiary lists to prevent fraud

Why These Features Matter Now

With Saudi’s non-oil private sector growing at 5.8% annually (GASTAT), these tools address critical gaps:

• Cash Flow Optimization: Faster access to funds via cards/remittances
• Operational Efficiency: Reduce payroll processing time by up to 70%
• Regional Expansion: Simplified cross-border transactions for growing businesses

Building for What’s Next
What makes Paymes particularly relevant for Saudi businesses is its forward-looking approach. Rather than simply replicating existing financial tools, it’s anticipating how Saudi commerce will evolve – from logistics integrations to support for emerging business models.

As the Kingdom continues its digital transformation, having financial tools that evolve alongside your business isn’t just convenient – it’s becoming a competitive necessity. Paymes positions itself as that growth partner for Saudi entrepreneurs at every stage.

Stay updated on Paymes’ Saudi launch – Check this page for exclusive insights.