In a move reflecting the accelerating pace of digital transformation in Saudi Arabia, the Barq digital payment app an exceptional and unprecedented milestone in the fintech sector, surpassing 10 million users in a short period of just 17 months since its launch. This record-breaking figure places the app at the forefront of the fastest-growing applications in the history of the Kingdom and the Middle East region, with statistics indicating that a third of the Kingdom's population now relies on Barq services for their daily financial transactions.
Rapid growth reflects community confidence
This achievement was no accident; it was the result of a well-planned expansion strategy. The app witnessed remarkable growth, attracting one million new users in just 21 days. This significant increase reflects the growing trust the app enjoys across various segments of society, thanks to its comprehensive suite of digital payment solutions that combine ease of use, speed, and high security. Barq's services encompass an e-wallet, digital payment card issuance, and local and international money transfers, contributing to simplifying the lives of millions and enhancing the efficiency of financial transactions.
"Barq" and the goals of Saudi Vision 2030
The success of the Barq app is in line with the general context of the economic renaissance that the Kingdom is witnessing under the umbrella of Saudi Vision 2030 , specifically the Financial Sector Development Program, which aims to increase non-cash transactions to 70% by 2030. During its first year, the app succeeded in establishing its position as one of the inspiring models in digital financial transformation, as the number of its users exceeded 7 million users from 150 different nationalities, with the issuance of more than 6.5 million digital payment cards, and the execution of more than 500 million payment transactions.
Huge economic figures and national contribution
In terms of economic impact, the Barq app has effectively contributed to stimulating the digital economy, with transactions exceeding SAR 73 billion last year. This strong performance highlights the app as a key national pillar supporting the cashless economy and enhances the Kingdom's competitiveness, which ranked second globally in the 2025 Government Digital Maturity Index (GTMI).
A boom in Saudi e-commerce
The growth of “Barq” cannot be separated from the general landscape of e-commerce in Saudi Arabia, which, according to data from the Saudi Central Bank, has witnessed record growth that has multiplied 19 times during the last four years, with its value jumping from 10 billion riyals in 2020 to 197.4 billion riyals in 2024. Forecasts indicate that this momentum will continue, with the growth of purchases via mobile phones, which have increased from 9 billion riyals to about 315 billion riyals by the end of 2024, which confirms that the future is for digital payments, which “Barq” is leading with competence.
