Episode Six Partners with Loop to Drive Financial Inclusion through Fintech-as-a-Service in the Kingdom of Saudi Arabia

Loop and Episode Six announce partnership to advance payments modernization 

Riyadh, April 16th, 2024 – Episode Six (E6), a leading global provider of enterprise-grade payment processing and ledger infrastructure, has today announced a partnership with Loop, a major e-Money institution (EMI), to power its Fintech-as-a-Service offering in the Kingdom of Saudi Arabia (KSA). E6 will power Loop’s cards, wallets and instant payment solutions to fulfill Loop’s strategic goal to become a digital financial services enabler.

The Kingdom is bolstering from a growing digital payments scene, recently reaching a market share of 62%, only eight points below its 2025 target of 70%. Much of this growth has been fueled by the nation’s bold  Vision 2030 plan – to fulfill its ambition of becoming a leader in digital technology.  

E6’s powerful, modern platform will enable Loop to offer the type of innovative and disruptive digital payments that will make the Vision 2030 plan possible, and bring new payments products to the market that their customers will love.  

"Saudi Arabia is driving change fast across digital payments and is ambitious to become a tech leader in this space," said Mr. Ali Alobaid, the CEO of Loop. "Our collaboration with E6 has been instrumental in bringing our strategic vision to life and representing a significant leap forward in the payments modernization journey within KSA. We look forward to working with E6 to continue to modernize payments across the region". 

As the exclusive provider, E6’s TRITIUM® platform will power Loop’s Fintech-as-a-Service offering, enabling the business to quickly configure and launch products for its customers, including Saudi entities. The modern payment platform and technology will simplify Loop’s paytech stack, helping to lower costs while offering a configurable foundation to build any payment product, quickly adapting to the fast-evolving Saudi market. 

Loop, licensed by the Saudi Arabian Monetary Authority (SAMA), is specialized in digital payments technology and services that provide a seamless and frictionless financial experience for individuals and businesses in KSA.  

“This partnership marks a huge step forward for the payments modernization journey in the KSA,” says John Mitchell, CEO and Co-Founder of Episode Six. “By combining E6's innovative technology with Loop's industry knowledge and pioneering spirit, our partnership aims to usher in a new era of payment systems, providing unparalleled value to businesses and consumers alike. We are excited to work with Loop to advance payments across the KSA”. 

About Episode Six 

Episode Six (E6) is a global provider of enterprise-grade payment processing and digital ledger infrastructure for banks and companies looking to offer payments to their customers. E6 delivers the innovative capabilities needed to compete with disruptors by augmenting existing infrastructures. Flexibility, adaptability, and resilience are built into the core of E6’s TRITIUM® platform ensuring clients maintain a market-leading position. E6 operates globally across 40 countries with an expanding team located in the U.S., Europe, Japan, Singapore, Hong Kong, and Australia. Investors include HSBC, Mastercard, SBI Investment Co., Ltd., Anthos Capital and Avenir. For more information, visit www.EpisodeSix.com or LinkedIn. 

About Loop 

Loop is a major electronic money institution (EMI) that is licensed by the Saudi Central bank SAMA. It was established in February 2020 and offers a full suite of digital financial services. We exist to make financial technology accessible to everyone in contribution to the Saudi Vision 2030. Loop envisions a world where our tech payment solutions are the most simple and accessible. At Loop, we don't have the brand ego. We take pride in pioneering disruptive ideas and innovative solutions that enable us to provide our customers with unique solutions that fulfill their financial needs. For more information please visit https://loop.sa/en/