Riyadh: The Small and Medium Enterprises General Authority (Monsha’at) has signed a memorandum of understanding (MoU) with PayPal to explore opportunities for cooperation in electronic payments and digital commerce. The MoU was announced during the Biban Forum 2025 and aims to strengthen the Saudi SME ecosystem and expand its global reach.

According to Saudi Press Agency, the agreement seeks to empower Saudi SMEs to grow internationally through digital commerce by facilitating access to new markets via trusted, globally recognized payment platforms. This initiative is expected to enhance their competitiveness in line with the objectives of Saudi Vision 2030.

Monsha’at Vice Governor for SME Services, Eng. Rayan Alfayez, commented on the collaboration, stating that it is a step toward empowering Saudi entrepreneurs to expand globally and compete at the highest levels. He emphasized that the partnership with PayPal is part of building a more connected, innovative, and resilient ecosystem that supports the Kingdom’s goals of economic diversification and digital transformation.