SAMA Announces the Launch of Google Pay Service in Saudi Arabia

The Saudi Central Bank (SAMA) announced the launch of Google Pay, one of Google’s products, through the national payment system (mada) in Saudi Arabia. The announcement came during the Money20/20 Middle East Conference and Exhibition, held at the Riyadh International Convention and Exhibition Center in Malham.
 This initiative reflects SAMA’s ongoing efforts to enhance the digital payments ecosystem in Saudi Arabia in line with the objectives of the Financial Sector Development Program, one of the Saudi Vision 2030 programs. It also affirms SAMA’s commitment to developing a robust digital payments infrastructure to move toward a less cash-dependent society by providing advanced digital payment solutions that align with international standards.
 The Google Pay service enables users to securely and conveniently add and manage their mada cards and digital credit cards through the Google Wallet application, as part of SAMA’s strategy to expand the use of FinTech solutions via smart devices, enhance financial inclusion in the Kingdom, and encourage the financial sector to serve customers through the latest payment methods.
 The launch of the Google Pay service is part of a series of market infrastructure enablement initiatives designed to meet Saudi market needs and streamline the digital payment experience, thereby reinforcing the Kingdom’s position as a leading country in FinTech solutions and boosting the growth of payment digitization globally.