The Saudi Central Bank (SAMA) announced in a press release today the launch of “Samsung Pay” in Saudi Arabia, through the national payment system “mada”, as part of its continuous endeavors to improve digital payment, in line with the Saudi Vision 2030.
This will help promote financial inclusion and expand the use of FinTech solutions across the Kingdom.
According to the release, the Samsung Pay service “offers an advanced and secure payment experience, enabling users to easily add and manage their mada cards and credit cards” in the “Samsung Wallet” application.
This initiative underscores SAMA’s commitment to developing a “robust digital payments infrastructure, facilitating the transition to a less cash-dependent society by providing advanced digital payment solutions that meet international standards”, reads the release.
“The launch of the Samsung Pay service is part of a series of innovations that aim at meeting the market needs and advancing Saudi Arabia’s position as a global pioneer in FinTech,” the release reads.

SPA