By Samar Yahya

RIYADH — Renee Welsh, Embed CEO, ME, was of the view that the cashless industry was gaining traction in the region and her company was positioned perfectly to seamlessly enter and grow in this exciting regional and Saudi market.

Embed, the worldwide leader of the cashless business management systems and solutions for the amusement, entertainment and leisure industries, is first to go-to-market with the Mobile Wallet and Welsh, while promoting Embed’s cashless systems, stated at the recently-concluded second Saudi Entertainment and Amusement (SEA) Expo that the Mobile Wallet is the next generation of cashless payments that would bring about a change in transactional behavior.

Welsh, who spoke about Embed’s participation in SEA Expo, told Saudi Gazette that Embed is proud to participate and be associated with the SEA Expo. Welsh said: “This is not our first time at SEA and we are excited to be here again. Embed is proud to support the SEA Expo as both an exhibitor and sponsor for the second year running. We strongly believe that good business is about strong partnerships, trust and collaboration in all areas.”

The second SEA Expo proved to be a remarkable opportunity for both exhibitors and visitors to showcase new products and network business meetings. The SEA Expo, which took place in RICEC, has achieved 75 percent growth overall and 30 percent growth of the number of exhibitors, especially with global and influential exhibitors. As per markets research and report, the global virtual reality gaming market will touch SR150 billion by 2024.

Welsh elaborated on a wide range of topics in the interview with a stress on the cashless industry in Saudi Arabia and the region. “It is such an exciting time in the region, especially in Saudi Arabia. Some consumer consumption numbers have MEA growing at 193% and we know consumer consumption is the very backbone of the growth driver of the FEC industry.”

“The leisure industry in Saudi has recently opened its doors and these are very exciting times for the cashless industry. For Embed we are seeing a surge of interest not only in our products but also our ability to share and educate the newly blooming leisure industry that we are more than happy to support with our years of knowledge and experience,” she said while painting a clear picture of the where the industry is headed.

“We have recently been selected as the partner of choice by Winter Wonderland Riyadh and the team at Sela Sports, who were looking for a robust, reliable and cutting edge system to support their operations. This partnership along with our existing relationship in Saudi Arabia from formative years and new contracts that we expect to finalize are testament to the fact that not only is Cashless Card Technology well and truly a part of the future in Saudi Arabia but that Embed is proving to be the partner of choice for the operators who require the right partner to guide them with cutting edge innovation and technology.”

Welsh also spoke about the Saudi entertainment and gaming industry and agreed that this nascent sector opens up immense possibilities and opportunities. She said, “The size of the Saudi Entertainment & Gaming Industry is infinite; there are so many cross-segments that are complimentary and merging and makes boundless opportunities for operators to offer amazing consumer experiences, something for the family.”

On Mobile Wallet and its benefits to users and operators, Welsh stressed, “It is the next generation of cashless payments and Embed is the first to go-to-market with the Mobile Wallet. Embed is the only non-banking finance-payment or loyalty card business and brand card that sits in the mobile wallet and no dedicated app is required on the phone. Embed readers are the only FEC business solution that is Apple IOS & Google Android compliant.”

Welsh is the recipient of many awards and recognitions. She is one of the top 30 Australian Female Entrepreneurs, Entrepreneur of the Year at the Women in Tourism Awards, and named one of 10 Tech Innovators at Phocuswright in the US and then was a judge of the innovation awards in 2016.