Saudi Payments

Saudi Payments, a wholly owned subsidiary of the Saudi Arabian Monetary Authority, was founded to operate and develop all major national payment systems. Since its establishment in 1991 under the name of the "General Department of Payment Systems" at the Monetary Authority, the real launch of Saudi Payments as a Company came in 2018 has played a vi... tal role in enabling the public and private sectors to connect with domestic and international payment services, helping to develop the Kingdom's payment infrastructure. Saudi Payments provides fast, flexible, and safe electronic payment services at low cost, through mada, Sadad, Esal and Sarie systems, enhancing the national electronic payment infrastructure and reducing cash transactions. Saudi Payments supports the government's Financial Sector Development Program, a part of the Kingdom's Vision 2030 Program. Saudi Payments operates to international standards, connecting local and international service providers with payment networks, reducing the need for cash payments.Read More