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Saudi Central Bank Launches Google Pay Service Through Mada Network
The Saudi Central Bank (SAMA) announced on Monday the launch of Google Pay, one of Google’s flagship payment services, through the Kingdom’s national payment network, Mada.
The announcement came during the Money20/20 Middle East conference and exhibition at the Riyadh International Convention and Exhibition Center in Mulham.
SAMA said the step reflects its ongoing efforts to strengthen the digital payments ecosystem in line with the Financial Sector Development Program.
The initiative underscores the bank’s commitment to building a strong digital payment infrastructure and supporting the transition toward a less cash-dependent society by providing advanced payment solutions aligned with international standards.
The service will allow users to easily and securely add and manage Mada cards and digital credit cards through the Google Wallet app.
The move is part of SAMA’s strategy to expand the use of fintech solutions across smart devices, enhance financial inclusion, and stimulate the financial sector with cutting-edge digital payment options.
SAMA emphasized that the launch of Google Pay is part of a wider set of initiatives designed to strengthen infrastructure, meet the needs of the Saudi market, and simplify digital payment experience
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EXCLUSIVE: “Passion Project” – Brice van de Walle, Mastercard in ‘The Fintech Magazine’
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