Latest news with #AliBailoun
TECHx
16-07-2025
- Business
- TECHx
Visa Launches She's Next Initiative in Saudi Arabia
Home » Emerging technologies » Fintech » Visa Launches She's Next Initiative in Saudi Arabia Visa (NYSE: V), digital payments, has announced the launch of a new edition of its global advocacy initiative, She's Next in Entrepreneurship, in Saudi Arabia. This initiative is in partnership with Saudi Awwal Bank (SAB) and Monsha'at. This latest launch builds on Visa's long-standing commitment to supporting women-led businesses in the region. Applications are open until July 21, 2025, for women entrepreneurs across Saudi Arabia. Five finalists will be announced on August 1. They will participate in a pitch event and final judging on September 2. Three winners will be selected to receive equity-free grants totaling USD 60,000: Main Prize: USD 30,000 Runner-Up: USD 20,000 People's Favorite: USD 10,000 The program is open to women from all sectors, from established businesses to emerging startups with high-growth potential. Haya Sawan, a fitness expert and wellness entrepreneur in Saudi Arabia, joins the program as mentor. She leads several ventures, including SheFit and Playball Saudi, and serves on the board of the Saudi Surfing Federation. Ali Bailoun, Visa's Regional General Manager in KSA, Bahrain, and Oman, said the program supports more than just funding. It offers mentorship, recognition, and growth opportunities aligned with Saudi Vision 2030. He cited Visa's Women SMB Digitalization study, which found that 50% of women business owners want to expand their services, and 20% seek better financial skills. Lama Ghazzaoui, Chief Financial Officer at SAB, said that empowering women is a core commitment at the bank. She highlighted the growing impact of women-led businesses in the country. Monsha'at emphasized that empowering women entrepreneurs is key to national prosperity. The organization believes access to tools, mentorship, and funding enables women to drive innovation and job creation. Visa reported that this initiative follows successful past editions focused on fashion, gaming, and sports. It now returns to spotlight broader entrepreneurship in Saudi Arabia. In 2023, Visa and the International Trade Centre (ITC) trained 340 women across six countries under the SheTrades and She's Next programs. These initiatives supported over 12,000 women employees. Globally, Visa has invested approximately USD 3 million since 2020 in grants and coaching for over 250 women SMB owners, including in Saudi Arabia, UAE, Oman, Bahrain, Qatar, and Kuwait.
Tourism Breaking News
02-07-2025
- Business
- Tourism Breaking News
KSA residents embrace short Eid Al Adha getaways abroad while foreign pilgrims drive spend in Kingdom: Visa Data
Post Views: 30 According to Visa's Travel Pulse Eid Al Adha Edition, international travel by KSA residents rose by 25% compared to the same period in 2024. This growth was driven by a strong preference for shorter trips, with 69% of travelers from KSA opting for brief weekend getaways. They also made 21% more purchases abroad and spent 13% more overall this Eid, reflecting a preference to maximize the holidays with quick trips abroad. Travelers from Kingdom of Saudi Arabia (KSA) took full advantage of this year's extended Eid Al Adha break, turning the six-day (June 5-10) holiday into an opportunity for cultural exploration, both at home and abroad. While many residents jetted off for short international getaways, the Kingdom also welcomed millions of foreign pilgrims during the Hajj season, driving a steady increase in travel to Saudi Arabia and spending. This Eid, international getaways became an opportunity for many KSA travelers to indulge in retail experiences. Shopping led the way across all major destinations, influencing not just how people spent, but also where they chose to go. • UAE led as the top international destination, welcoming 14% of KSA travelers and accounting for 23% of total international spend. With an average spend of $635 per card, fashion took center stage — seven of the top ten merchants were in the shopping and apparel category. Among the top brands were Dubai Duty Free Stores, Hermes, and Cartier, reflecting both a preference for convenient airport shopping and a strong appetite for luxury. Dining and entertainment were also high on the agenda. • Nine percent (9%) of travelers went to Turkey, making it the second most popular destination. It captured 15% of overall holiday spend with each visitor spending an average of $653 per card. • While UK attracted a smaller share of travelers from Saudi Arabia (6%) and overall spend (12%), it captured the highest spend per card at $839. This figure reflects the destination's premium retail appeal, with shopping leading how KSA visitors chose to spend. The Hajj season continued to play a meaningful role in Saudi Arabia's economic landscape. Compared to the same period last year, the Kingdom saw a 7% increase in the number of foreign pilgrims, who made 16% more purchases during their stay. While overall spending grew by 4% key shopping categories remained unchanged, including food, medicine, and other everyday needs, with smaller portions of spend going toward clothing and travel-related services. 'Whether it's a short break or a meaningful pilgrimage, having a simple and secure way to pay matters at every step of the journey.' said Ali Bailoun, Regional General Manager for Saudi Arabia, Bahrain and Oman at Visa. 'We are proud to support that through our unique data insights and seamless, reliable payment solutions, and to contribute to the Kingdom's Vision 2030 by helping create more connected, inclusive and seamless payment experiences across borders.'
Daily Tribune
01-07-2025
- Business
- Daily Tribune
KSA Travellers Swap Long Breaks for High-Spend Getaways
Luxury wins Eid A growing number of Saudi residents chose short yet luxurious international holidays during the recent Eid Al Adha break, as data revealed a 25 percent rise in outbound travel from the Kingdom compared to last year. Visa's latest Travel Pulse report shows that nearly 7 in 10 KSA travellers preferred quick getaways over extended vacations, with shopping emerging as the dominant driver of spend. Retail focus abroad The UAE attracted the largest share of Saudi travellers, drawing 14 percent of all outbound tourists and accounting for nearly a quarter of the total international spending. Fashion and luxury brands dominated their purchases, with seven of the top ten merchants falling under the shopping and apparel category. Popular spending outlets included Dubai Duty Free, Cartier, and Hermes. On average, each Saudi visitor to the UAE spent $635 using Visa cards. Dining and entertainment were also major attractions, though shopping remained the focal point. Turkey came second as a preferred destination, capturing 9 percent of KSA travellers and 15 percent of overall holiday spend. Visitors to Turkey spent slightly more on average, with a per-card spend of $653. The UK, though attracting only 6 percent of travellers, recorded the highest average spend per card at $839, underscoring the country's strong appeal for high-end retail and luxury experiences. Pilgrim-driven growth at home While outbound travel surged, the Kingdom also welcomed a significant number of inbound visitors for the Hajj season. According to Visa, foreign pilgrim arrivals rose by 7 percent over the previous year, contributing to a 16 percent increase in spending inside Saudi Arabia. This growth was driven by everyday essentials. Food, medicine, and basic necessities formed the bulk of purchases by pilgrims, while spending on travel-related services and clothing remained relatively low. Overall in-Kingdom spending rose by 4 percent. Spending trends shift Ali Bailoun, Visa's Regional General Manager for Saudi Arabia, Bahrain and Oman, said having simple and secure payment options remains critical during religious and leisure travel alike. He added that Visa aims to support the Kingdom's Vision 2030 goals by offering reliable cross-border payment experiences that encourage both domestic and international travel activity. Planning for next time Visa also issued recommendations to help businesses tap into this evolving travel-spend behaviour. These include exclusive cardholder partnerships, early booking rewards, and strengthening local staycation offers. With consumer behaviour during Eid now showing a clear divide between indulgent foreign escapes and essential spending at home, the season is no longer just a time for reflection but also a key moment in the region's economic calendar.
Biz Bahrain
03-06-2025
- Business
- Biz Bahrain
Visa Study Reveals Bahrain Consumers Would Shop More Online with Simpler Checkout Experience
Visa, a global leader in digital payments, today announced the findings of its 'Checkout Friction Report', which highlights strong consumer demand for a more secure and seamless eCommerce experience. Despite the widespread adoption of eCommerce and significant progress in growing Bahrain's digital economy, opportunity remains for retailers to enhance checkout experience and increase customer satisfaction. The research is based on a survey of 2,016 online shoppers across the GCC, including Bahrain, and explored their experiences with eCommerce purchases. It examined common pain points during the checkout process that affect both consumer satisfaction and business outcomes. Checkout Challenges Undermine the Rise of Frequent Online Shopping Visa's 'Checkout Friction Report' shows that 28% of respondents in Bahrain shop multiple times a week for groceries. For categories such as fashion, entertainment, and electronics, shopping frequency ranges from once to a few times a month. According to 42% of respondents, one of the biggest frustrations with online checkouts is security concerns (42%), followed by the hassle of entering card details manually (39%). By addressing these challenges, retailers can enhance the checkout experience which could lead to increased customer satisfaction. 'Today's consumers expect – and deserve – a more seamless and secure checkout experience. That's why Visa is working with partners to enable solutions like Click to Pay, which leverages biometrics and tokenization to eliminate key pain points and deliver a more convenient shopping experience. Improving these moments not only drives a better consumer experience but also builds on the Bahrain government's achievements in building a seamless, secure digital economy,' said Ali Bailoun, Visa's Regional General Manager for KSA, Bahrain and Oman. Bahrain Online Shoppers Prioritize Safety Beyond the inconvenience of checkout, security remains a top priority for online shoppers. According to Visa's research, 69% of consumers surveyed are worried about the risk of fraud, while 59% expressed concerns about storing their card details on multiple websites. Additionally, one in three (34%) respondents have experienced fraud or security breaches. Biometrics and One-Click Checkouts for Better Online Payment Experience Visa's 'Checkout Friction Report' also reveals a strong preference for a more streamlined checkout, with 65% of respondents supporting a single registration process for online payments across all participating merchants. When the option of biometric authentication was proposed, almost two-thirds (64%) of respondents said they would use it to check out, with 58% trusting biometric authentication (fingerprint/face ID) more than traditional payment methods (passwords/OTP). Most respondents (77%) would shop online more frequently and be more likely to complete their purchases with a one-click checkout option. Two-thirds of the surveyed consumers (68%) show a high likelihood of using 'Click to Pay with Biometrics'' if offered by online retailers. 'Challenges in the online checkout process have direct implications for businesses, resulting in lost revenue, and hampering both customer acquisition and retention. For businesses, the demand for simpler and safer checkout options is clear,' said Ahmed ElKaffass, Visa's Country Manager for Bahrain. Visa Click to Pay streamlines online shopping by providing advanced checkout experiences, eliminating the need to manually enter card details, thereby making transactions significantly faster. At participating eCommerce platforms, consumers can simply click the Click to Pay button to complete their purchase quickly and easily using their preferred Visa card and shipping address. Visa's Click to Pay relies on biometric authentication available on the consumer's device and does not require transfer of biometric data.
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.'
