The Saudi Central Bank (SAMA) has launched a new eCommerce payments interface, marking a significant step toward modernizing the Kingdom’s digital financial ecosystem.
This strategic initiative is designed to enhance the efficiency, security, and scalability of Saudi Arabia’s national payment infrastructure, in line with the country’s broader digital transformation goals.
According to the statement, the new interface allows eCommerce service providers to leverage Saudi Arabia’s national payment infrastructure, enabling seamless integration of the mada payment system with global payment networks.
This integration broadens the range of available payment options for users, supported by unified and simplified technical specifications.
Furthermore, the interface introduces a centralized registration service, empowering banks and financial institutions to deliver innovative financing solutions tailored to the needs of eCommerce businesses.
As per the statement, the system leverages advanced technologies such as payment card tokenization, significantly enhancing the security of electronic payment transactions.
This launch is part of SAMA’s strategy to strengthen the e-payment ecosystem, support the future development of eCommerce payments, and deliver smooth and secure payment solutions. It also supports the ongoing expansion of online businesses and the increasing number of online stores and service providers, including payment gateways and technical service providers.
Additionally, the launch supports the advancement of digital payment adoption and aligns with the goals of Saudi Arabia’s Fintech Strategy, further strengthening the Kingdom’s position as a global leader in the payments industry.
Last month, SAMA announced updated regulations for the issuance and operation of credit cards, which will replace the existing rules governing credit card issuance and monthly charges.
