Launching the “Samsung Pay” payment service in Saudi Arabia

The Central Bank of Saudi Arabia (SAMA) launched the “Samsung Pay” payment service through the national payments system “Mada” in the Kingdom.
This step comes within the framework of the ongoing efforts led by the Central Bank to enhance the digital payments system in the Kingdom, which is in line with the Kingdom’s Vision 2030.

Advanced payment experience

The service aims to provide an advanced and secure payment experience to users, enabling them to add and manage mada cards and digital credit cards with ease and security through the “Samsung Wallet” application, as part of the Saudi Central Bank’s strategy to expand the use of financial technology solutions via smart devices, and enhance financial inclusion in the Kingdom. Kingdom, and stimulating the financial sector to serve customers through the latest payment methods.
This step embodies SAMA’s commitment to continuing to develop the digital payments infrastructure in the Kingdom, which contributes to the growth of payment digitization indicators and achieving the transition to a society less reliant on cash by providing advanced digital payment solutions that are consistent with the technical requirements of the national payments infrastructure.
The availability of this service comes as part of a series of technical innovations that aim to meet the needs of the Saudi market and facilitate the digital payment experience, in order to enhance the Kingdom’s position as one of the leading countries in the field of financial technology payments in the world.