Saudi
“Can Saudi Arabia's national payments operator build the digital rails and acceptance infrastructure that underpin Vision 2030's cashless economy ambitions?”
Founded2018
HQRiyadh, Saudi Arabia
IndustryInfrastructure / Payments
The story
Saudi Payments was established in 2018 as a SAMA subsidiary to consolidate and modernize the Kingdom's national payments infrastructure, operating the mada domestic debit network and SADAD bill payment system. The company has pursued Vision 2030 digital economy goals by enabling contactless payments, open banking, and merchant acceptance infrastructure across Saudi Arabia. It serves as the central payments rails operator, partnering with global card networks like Visa to expand acceptance technology.
Product timeline
2018
Saudi Payments established as a subsidiary of the Saudi Central Bank (SAMA) to operate national payment infrastructure including mada network.· pivot
2022
Partnered with Visa to launch Tap to Phone (SoftPOS) in the Kingdom of Saudi Arabia, enabling contactless acceptance on merchant smartphones.· banking
Regulated entities
Payment System Operator
Saudi Arabia (SAMA) · 2018
Saudi Payments Company
The stack
Payments / PSP
Accounting gap: none