[Saudi Arabia] ABHI partners with QBS to launch earned wage access service

The Pakistan-based fintech ABHI has announced the launch of an earned wage access service in Saudi Arabia through a partnership with local firm QBS, as it expands deeper into Gulf financial services markets, Arab News reports.

Founded in 2021, ABHI initially built its business around earned wage access services, which allow salaried employees to withdraw part of their wages before payday through employer-linked digital platforms. 

ABHI subsequently expanded into payroll, SME financing and cross-border financial services, with a growing focus on Gulf labour markets and expatriate workers.

The Middle East has become a major growth market for South Asian fintech firms as governments and employers increasingly adopt digital payroll systems and financial wellness tools for workers.

In a statement, ABHI said, “Abhi Saudi, powered by Alraedah Digital Solutions, has announced its partnership with QBS to provide employees with instant access to earned wages through its Earned Wage Access (EWA) solution.” 

The initiative will reportedly allow QBS employees to withdraw a portion of their salaries at any point in the month. It is intended to reduce dependence on short-term borrowing and improve financial flexibility, the statement said.

“Earned Wage Access bridges the gap between earning and access, benefiting both employers and employees,” Omair Ansari - ABHI co-founder and CEO - said.

“Partnering with QBS allows us to bring this transformation to a fast-evolving, digital-first workforce.”

Under its Vision 2030 economic diversification agenda, Saudi Arabia has increasingly promoted digital financial inclusion and fintech expansion, creating opportunities for regional financial technology firms.

“Our people are at the core of QBS’s success, and this collaboration with ABHI gives them greater control over their earnings and financial well-being,” Faraz Ahmed Quddusi - QBS CEO - said.

“It reflects our commitment to building a modern, employee-first workplace in the Kingdom.”

According to ABHI, it has partnered with more than 7,000 companies and has received backing and recognition from organisations including Hub71, Endeavor, the World Economic Forum and Mastercard’s Start Path program.

In addition, the company has reportedly expanded operations in the United Arab Emirates through partnerships focused on payroll access, remittances and financial services targeting expatriate workers from South Asia and other regions.

Source: Arab News

(Quotes via original reporting)

The Pakistan-based fintech ABHI has announced the launch of an earned wage access service in Saudi Arabia through a partnership with local firm QBS, as it expands deeper into Gulf financial services markets, Arab News reports.

Founded in 2021, ABHI initially built its business around earned wage access services, which allow salaried employees to withdraw part of their wages before payday through employer-linked digital platforms. 

ABHI subsequently expanded into payroll, SME financing and cross-border financial services, with a growing focus on Gulf labour markets and expatriate workers.

The Middle East has become a major growth market for South Asian fintech firms as governments and employers increasingly adopt digital payroll systems and financial wellness tools for workers.

In a statement, ABHI said, “Abhi Saudi, powered by Alraedah Digital Solutions, has announced its partnership with QBS to provide employees with instant access to earned wages through its Earned Wage Access (EWA) solution.” 

The initiative will reportedly allow QBS employees to withdraw a portion of their salaries at any point in the month. It is intended to reduce dependence on short-term borrowing and improve financial flexibility, the statement said.

“Earned Wage Access bridges the gap between earning and access, benefiting both employers and employees,” Omair Ansari - ABHI co-founder and CEO - said.

“Partnering with QBS allows us to bring this transformation to a fast-evolving, digital-first workforce.”

Under its Vision 2030 economic diversification agenda, Saudi Arabia has increasingly promoted digital financial inclusion and fintech expansion, creating opportunities for regional financial technology firms.

“Our people are at the core of QBS’s success, and this collaboration with ABHI gives them greater control over their earnings and financial well-being,” Faraz Ahmed Quddusi - QBS CEO - said.

“It reflects our commitment to building a modern, employee-first workplace in the Kingdom.”

According to ABHI, it has partnered with more than 7,000 companies and has received backing and recognition from organisations including Hub71, Endeavor, the World Economic Forum and Mastercard’s Start Path program.

In addition, the company has reportedly expanded operations in the United Arab Emirates through partnerships focused on payroll access, remittances and financial services targeting expatriate workers from South Asia and other regions.

Source: Arab News

(Quotes via original reporting)