Saudi Gazette report

RIYADH — The Saudi Central Bank (SAMA) has announced the launch of “Samsung Pay” through the national payment system “mada,” as part of its efforts to advance the digital payments ecosystem in Saudi Arabia. The initiative aligns with the Saudi Vision 2030 goal of promoting financial inclusion and expanding FinTech solutions across the Kingdom.

The launch of “Samsung Pay” underscores SAMA’s commitment to fostering a robust digital payments infrastructure to transform Saudi Arabia into a less cash-dependent society. By introducing advanced digital payment solutions that meet international standards, SAMA continues to enhance financial accessibility and technological adoption.

Samsung Pay offers users a secure and seamless payments experience, allowing them to manage their mada and credit cards conveniently within the “Samsung Wallet” application.

The introduction of Samsung Pay is one of several innovations aimed at meeting market needs and solidifying Saudi Arabia’s position as a global leader in the FinTech sector, it was pointed out.