The Saudi Central Bank (SAMA) has partnered with Google to introduce Google Pay in Saudi Arabia through the national payment system “mada,” with the service set to launch in 2025.
This collaboration is part of SAMA’s strategic efforts to enhance the Kingdom’s digital payments ecosystem in line with Saudi Vision 2030, according to FF News.
By introducing advanced digital payment solutions, SAMA aims to reduce cash dependency, foster financial innovation, and establish a world-class infrastructure that aligns with global standards.
SAMA is the central authority driving monetary stability and payment system development in Saudi Arabia. It plays a pivotal role in promoting financial inclusion and advancing the Kingdom’s transition to a digital-first economy.
Google, a multinational technology corporation, provides a suite of digital products and services. With its Google Pay solution, the company has redefined payment experiences by offering secure, seamless transactions across physical stores, online platforms, and mobile apps.
The introduction of Google Pay in Saudi Arabia will provide users with a secure, convenient payment method.
This service enables users to add and manage their cards within Google Wallet, catering to the market’s demand for advanced and reliable payment options.
The collaboration also positions Saudi Arabia as a global FinTech leader, reflecting its commitment to fostering innovation and technology-driven transformation.
The move supports also strengthens Saudi Arabia’s global standing in the FinTech landscape.
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