The Saudi Central Bank (SAMA) has partnered with tech giants Google Pay and Ant International to bolster the digital payment infrastructure in Saudi Arabia.
The collaboration aligns with the nation’s Vision 2030 objectives, aiming to advance financial technology and inclusion through the adoption of payment solutions.
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At the Money20/20 Middle East Conference in Riyadh, SAMA revealed the integration of Google Pay via the mada national payment system.
The service allows users to manage their mada and digital credit cards through Google Wallet, in line with SAMA’s strategy to promote the use of FinTech on smart devices and improve customer experiences in the financial sector.
Furthermore, SAMA and Ant International are preparing to launch cross-border QR code payment capabilities between mada and Alipay+ in 2026.
The initiative seeks to enable local merchants, particularly small and medium-sized enterprises, to accept payments from Alipay+’s international partners, fostering digital inclusivity and economic growth.
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By GlobalDataThe move is part of the Financial Sector Development Program under Saudi Vision 2030, which seeks to diversify the economy and spur innovation.
Goals include achieving 70% non-cash transactions by 2030 and attracting 150 million visitors, thereby creating jobs and stimulating economic development.
Recently, Thunes, a global payments network, initiated real-time cross-border payments into Saudi Arabia.
With Thunes’ Direct Global Network, members can now execute instant transfers to Saudi bank accounts and wallets in SAR, streamlining transactions for both individuals and entities.
