Saudi Central Bank Launches New E-Commerce Payment System to Support Online Shopping
The Saudi Central Bank (SAMA) has introduced a new payment system to make online shopping easier and faster. This system will help improve the country’s digital payment services and support the growing e-commerce market, the bank said on Monday.
More Payment Options for Users
The new system connects Saudi Arabia’s local payment network, mada, with international payment systems. This means people will have more choices when paying online. It uses the same technical rules for all systems, which makes integration smoother.
SAMA has also created a central registration system to help banks offer better loan and financing options for online businesses. The new features also include better security, like payment card tokenization, which helps protect users’ information during transactions.
Supporting Innovation and Fintech
This launch is part of SAMA’s bigger plan to improve digital payments, encourage innovation in e-commerce, and strengthen the financial technology (fintech) sector in Saudi Arabia.
Other Digital Tools from SAMA
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In July 2023, SAMA launched Naqd, a digital banking platform for government agencies. It helps manage government accounts in real-time and makes financial tasks faster and easier.
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In May 2024, SAMA introduced a service called “View My Bank Accounts” to help people monitor their accounts and prevent fraud or misuse.
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In late 2023, new rules were introduced for Buy Now, Pay Later (BNPL) companies to support fintech and protect consumers. Saudi Arabia plans to grow this sector, aiming for 525 BNPL companies, contributing $3.5 billion to the economy.
Big Steps in Digital Payments
In January 2025, SAMA partnered with Google to bring Google Pay to Saudi Arabia through the mada network.
That same month, SAMA also launched eSAMA, an online portal where people, companies, and government agencies can use SAMA’s services digitally. This is part of SAMA’s plan to become more modern and efficient.
Published: 8th July 2025
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