Latest news with #AliBailoun
Trade Arabia
19-05-2025
- Business
- Trade Arabia
Makkah spending up 162pc during Ramadan: Visa reports
Saudi Arabia's Holy Cities emerged as Ramadan's top economic performers, according to Visa's Travel Pulse Q1 2025, which reveals a 162% surge in visitor spend on Visa cards in Makkah during the Holy Month. The report highlights the growing role of religious tourism in supporting the Kingdom's non-oil economy, a key pillar of The Kingdom Vision 2030. From February 28 to March 30, Makkah and Madinah significantly outpaced Riyadh and Jeddah, reflecting the Holy Cities' draw of religious travel during Ramadan. In Makkah alone, average spend per visitor climbed to $449, up from $356 during the rest of the year. Madinah followed with a 64% increase in visitor spend. 'Beyond their religious significance Makkah and Madinah are also engines of economic growth,' said Ali Bailoun, Visa's Regional GM for Saudi Arabia, Bahrain, and Oman. 'Our Travel Pulse data reveals that religious tourism is driving economic activity in Saudi Arabia and provides local businesses with unique insights into shopping behaviors and visitor profiles during the Holy Month.' 48% of all Ramadan visitors came from the GCC, with the UAE leading the charge: Growth also came from other regions: Kazakhstan (64%), South Africa (56%), and Egypt (19%) posted the highest increases in traveler numbers. Spending Patterns Reflect Ramadan's Rhythm Dining (27%), retail (25%) and fashion (10%) were the top spend categories. Activity peaked after Iftar, with most visitors heading to malls and restaurants. The second half of Ramadan saw higher transaction volumes, leading into Eid. Bailoun added: 'For merchants in Saudi Arabia, there's a real opportunity to reimagine how they engage with religious travelers. By extending hours during peak post-iftar times, embracing digital payments, and curating offerings that resonate with GCC and emerging market visitors, they can help turn their journey into a seamless experience—while contributing to the Kingdom's digital commerce agenda.'
Zawya
05-05-2025
- Business
- Zawya
FII Institute and Visa sign strategic partnership agreement to accelerate innovation for humanity
RIYADH – Visa has announced its strategic partnership with the Future Investment Initiative (FII) Institute. FII Institute is a global non-profit foundation with an investment arm and a single agenda: Impact on Humanity. Visa is joining the Institute's list of international partners ahead of the 9th edition of its flagship FII conference in Riyadh to be held October 27-30, 2025. Signing the partnership agreement at the ceremony were Ali Bailoun, Visa's Regional General Manager for Saudi Arabia, Bahrain, and Oman, and Penny Richards, CEO of FII Institute. Visa facilitates transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. The payment technology company's mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. FII Institute convenes global leaders from government, business, and investment sectors across more than 90 countries to explore critical topics in AI & Robotics, Education, Healthcare, and Sustainability. These high-level conversations spark real change. As a catalyst for real-world solutions, FII Institute backs innovations and ideas that are solving humanity's most pressing challenges. As part of this collaboration, Visa gains access to exclusive opportunities, including participation in high-impact conferences and summits globally, collaboration with influential stakeholders, and curated insights from FII Institute's world-class research and thought leadership platforms. 'Visa believes that economies that include everyone, everywhere, uplift everyone, everywhere. Our partnership with FII Institute will support continued conversations on how government and private sector can further extend access to new technologies, knowledge and skills for a digital economy both globally and in Saudi Arabia that is equitable and inclusive,' said Ali Bailoun, Visa's VP and Regional GM for Saudi Arabia, Bahrain and Oman. Penny Richards, CEO of FII Institute, remarked, 'This partnership marks a pivotal moment in our mission to drive inclusive economic growth through strategic collaboration. By joining forces with Visa, we are also ensuring that significant leaders behind investment and financial innovation will join others in contributing meaningfully to human progress.' FII Institute and Visa will also partner on strategic forums and executive roundtables that bring together influential voices from across sectors. These engagements will foster meaningful conversations on responsible investment and inclusive global growth. In addition, it represents a significant step toward mobilizing the power of investment and technology to create a more equitable and sustainable future for everyone, everywhere. About Visa Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere, and see access as foundational to the future of money movement. About FII Institute The Future Investment Initiative (FII) Institute is a global non-profit foundation driven by data with an investment arm and one agenda: Impact on Humanity. Global and inclusive, we foster great minds from around the world and turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare, and Sustainability.
Arabian Business
02-05-2025
- Business
- Arabian Business
Saudi tourism: Ramadan drives visitor spending in Makkah
Saudi Arabia's Holy Cities emerged as Ramadan's top economic performers, according to Visa's Travel Pulse Q1 2025, which reveals a 162 per cent surge in visitor spend on Visa cards in Makkah during the Holy Month. The report highlights the growing role of religious tourism in supporting the Kingdom's non-oil economy, a key pillar of The Kingdom Vision 2030. From February 28 to March 30, Makkah and Madinah significantly outpaced Riyadh and Jeddah, reflecting the Holy Cities' draw of religious travel during Ramadan. Religious tourism in Saudi Arabia In Makkah alone, average spend per visitor climbed to $449, up from $356 during the rest of the year. Madinah followed with a 64 per cent increase in visitor spend. Ali Bailoun, Visa's Regional GM for Saudi Arabia, Bahrain, and Oman, said: 'Beyond their religious significance Makkah and Madinah are also engines of economic growth. Our Travel Pulse data reveals that religious tourism is driving economic activity in Saudi Arabia and provides local businesses with unique insights into shopping behaviours and visitor profiles during the Holy Month.' 48 per cent of all Ramadan visitors came from the GCC, with the UAE leading the charge: UAE: 51 per cent rise in visitors, 95 per cent increase in spend Qatar: 12 per cent rise in visitors, 26 per cent increase in spend Kazakhstan (64 per cent), South Africa (56 per cent), and Egypt (19 per cent) posted the highest increases in traveller numbers. Dining (27 per cent), retail (25 per cent) and fashion (10 per cent) were the top spend categories and activity peaked after Iftar, with most visitors heading to malls and restaurants. The second half of Ramadan saw higher transaction volumes, leading into Eid. Bailoun added: 'For merchants in Saudi Arabia, there's a real opportunity to reimagine how they engage with religious travellers. By extending hours during peak post-iftar times, embracing digital payments, and curating offerings that resonate with GCC and emerging market visitors, they can help turn their journey into a seamless experience—while contributing to the Kingdom's digital commerce agenda.'
Zawya
01-05-2025
- Business
- Zawya
Religious tourism drives 162% increase in visitor spend in Makkah during ramadan, Visa data reveals
Nearly half of inbound travelers to Saudi Arabia came from GCC countries with the UAE leading in spend and footfall Ali Bailoun: 'Beyond their religious significance Makkah and Madinah are also engines of economic growth' Riyadh, Saudi Arabia: Saudi Arabia's Holy Cities emerged as Ramadan's top economic performers, according to Visa's Travel Pulse Q1 2025, which reveals a 162% surge in visitor spend on Visa cards in Makkah during the Holy Month. The report highlights the growing role of religious tourism in supporting the Kingdom's non-oil economy, a key pillar of The Kingdom Vision 2030. From February 28 to March 30, Makkah and Madinah significantly outpaced Riyadh and Jeddah, reflecting the Holy Cities' draw of religious travel during Ramadan. In Makkah alone, average spend per visitor climbed to $449, up from $356 during the rest of the year. Madinah followed with a 64% increase in visitor spend. 'Beyond their religious significance Makkah and Madinah are also engines of economic growth,' said Ali Bailoun, Visa's Regional GM for Saudi Arabia, Bahrain, and Oman. 'Our Travel Pulse data reveals that religious tourism is driving economic activity in Saudi Arabia and provides local businesses with unique insights into shopping behaviors and visitor profiles during the Holy Month.' GCC and Global Tourists Visit Saudi Arabia 48% of all Ramadan visitors came from the GCC, with the UAE leading the charge: UAE: 51% rise in visitors, 95% increase in spend Qatar: 12% rise in visitors, 26% increase in spend Growth also came from other regions: Kazakhstan (64%), South Africa (56%), and Egypt (19%) posted the highest increases in traveler numbers. Spending Patterns Reflect Ramadan's Rhythm Dining (27%), retail (25%) and fashion (10%) were the top spend categories. Activity peaked after Iftar, with most visitors heading to malls and restaurants. The second half of Ramadan saw higher transaction volumes, leading into Eid. Bailoun added: 'For merchants in Saudi Arabia, there's a real opportunity to reimagine how they engage with religious travelers. By extending hours during peak post-iftar times, embracing digital payments, and curating offerings that resonate with GCC and emerging market visitors, they can help turn their journey into a seamless experience—while contributing to the Kingdom's digital commerce agenda.' About Visa Inc. Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at
Al Bawaba
24-03-2025
- Business
- Al Bawaba
Visa Tap to Phone Adoption Soars: 77%% Year-over-Year Growth in Saudi Arabia
Tap. Pay. Done. This simple, secure, and increasingly mobile action has transformed the shopping experience and unlocked opportunities for small businesses worldwide. Today, Visa announced that Tap to Phone has experienced a 200% increase over the past year, supporting millions of sellers of all sizes. In Saudi Arabia, adoption rates have also surged, showing a growth rate of 77%.Tap to Phone expanded Visa's tap capabilities with a technology that turns a smartphone into a point-of-sale (POS) device, simply by downloading an app. This technology is helping to democratize access to commerce tools and empower microsellers and SMBs around the world to start accepting contactless payments by using their NFC-enabled smartphones. 'Tap to Phone's is a game changer for small and medium-sized businesses, offering them a secure, cost-effective way to access the digital economy,' said Ali Bailoun, Visa's Regional General Manager for Kingdom of Saudi Arabia, Bahrain and Oman. 'We're constantly innovating to expand our tap capabilities and create the best payments experiences for people and businesses. The significant growth in adoption is a testament to the technology's impact and potential.'Empowering businesses of all sizes From market stalls to major retailers, Tap to Phone empowers businesses of all sizes to accept payments effortlessly, creating a seamless and fast checkout experience for customers. Business owners globally report increased confidence, streamlined operations, and accelerated growth with Visa's Tap to Phone. The growing adoption of Tap to Phone is expected to continue as more businesses recognize its Ukraine, where NovaPost has implemented Tap to Phone for their courier services, 80% of all digital transactions are now processed through this solution. Similarly, in South Africa, Visa's partner iKhokha is leveraging Tap to Phone to provide businesses with mobile payment acceptance. As a result, iKhokha merchants have seen a 50% growth in the number of Tap to Phone transactions within six months since the launch, with continuous growth observed Future of TapThis upward trend for Tap to Phone is expected to continue through the next year as more consumers and businesses may begin to recognize the benefits of tap technology and more use cases may hit the example, Tap to Add Card enables users to add eligible credit or debit cards to their digital wallet by simply tapping a card to their phone. Since Tap to Add Card rolled out globally with Apple Pay in September 2024, it has picked up traction and enabled millions of tokens for more than 100 issuers, helping achieve higher authorization rates and fraud reduction rates. Visa cardholders can add their Visa cards to Apple Wallet faster than ever, with no need to manually input card details. Visa has also developed Tap to Confirm, which allows consumers to quickly and securely authenticate a high value transfer. Tap to Confirm will be soon available across Central and Eastern Europe, Middle East and Africa (CEMEA).
