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April 19, 2018updated 21 Jul 2022 7:54am

Checkout.com to accept payments through Saudi Arabia’s mada network

Online payments solutions provider Checkout.com has become the first payment solutions provider (PSP) to accept payments through Saudi Arabia’s domestic payment network called mada.

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In Saudi Arabia, mada links all ATM and point of sale (POS) terminals to merchant and card issuer banks.

The tie-up with Checkout.com will enable mada cardholders and merchants to make online transactions.

The online payments firm expects the move to boost e-commerce growth, as more than one billion transactions are routed annually via mada.

Checkout.com VP of business development for MENA Remo Giovanni Abbondandolo said: “mada is one of the fastest growing payment systems in the region and our partnership will help drive the already strong growth of e-commerce in the Kingdom. Incorporating the mada network into the Checkout.com platform allows Flyin.com – and other businesses that operate in the region – to offer consumers a more diverse and convenient range of payment choices.”

Checkout.com uses proprietary payment technology to link e-commerce firms with credit and debit cards and alternative payment methods. The firm currently processes payments in more than 150 currencies.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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