Friday, October 27, 2023

Saudi Payments wins award for top transaction experience in 2023.


Saudi Payments, also known as Mada, has been recognized for its contribution to the Kingdom’s digital economy landscape by receiving the Best Payment Experience of 2023 award at Seamless Middle East, a commercial technology event held in Dubai. Mada, operating under the Saudi Central Bank, was awarded for its public transport payments services in the Kingdom’s urban mobility space. The system enables all Mada cardholders to pay for public transport using their cards, eliminating the need for cash collection and contributing to the Kingdom’s digital transformation goals. Mada is one of the crucial pillars for digital payments in the Kingdom, offering solutions such as Saudi Arabian Riyal Interbank Express, bill payment platform SADAD, and e-invoicing platform Esal. It plays a crucial role in the Kingdom’s Financial Sector Development Program, which aims to achieve a share of 70 percent of non-cash transactions by 2025.

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