Google Pay Launches in Saudi Arabia via SAMA’s Payment Network
▼ Summary
– The Saudi Central Bank (SAMA) officially launched Google Pay through the national payment system mada at the Money20/20 Middle East Conference in Riyadh.
– This rollout advances Saudi Arabia’s digital payments ecosystem as part of the Financial Sector Development Program under Saudi Vision 2030.
– Google Pay enables users to securely manage their mada and credit cards in the Google Wallet app, offering a modern and convenient payment solution.
– The initiative aims to reduce reliance on cash transactions and foster a secure, innovative digital economy in the Kingdom.
– This launch strengthens Saudi Arabia’s position as a global fintech pioneer and supports its goal of becoming a leader in digital financial services.
The Kingdom of Saudi Arabia has taken a significant leap forward in its digital transformation journey with the official introduction of Google Pay through the national payment network, mada. Announced by the Saudi Central Bank (SAMA) during the Money20/20 Middle East Conference in Riyadh, this development represents a major milestone in enhancing the nation’s digital payments infrastructure.
This strategic move supports the objectives of the Financial Sector Development Program, a key component of Saudi Vision 2030, which seeks to decrease dependence on cash and promote a secure, forward-thinking digital economy. Users can now effortlessly add and oversee their mada and credit cards within the Google Wallet application, providing a streamlined, protected, and user-friendly payment experience.
SAMA highlighted that the rollout forms part of a wider effort to establish a resilient payments framework that adheres to global benchmarks while catering to domestic requirements. The incorporation of Google Pay reinforces Saudi Arabia’s standing as an early adopter of financial technology and advances its ambition to emerge as a frontrunner in digital financial services.
(Source: MEA Tech Watch)
