Sama Announces Launch of New E-commerce Payments Interface

Saudi Central Bank (SAMA) has announced the launch of a new e-commerce payments interface, which enables e-commerce service providers to rely on national infrastructure and integrate the mada payment system with global payment networks.

This expands the range of payment options available to users through unified and simplified technical specifications. It also introduces a centralized registration service to enable banks and financial institutions to offer innovative financing solutions to e-commerce businesses.

The new interface is a strategic move aimed at enhancing the efficiency of national payment infrastructure and keeping pace with the rapid growth of the e-commerce sector. 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 e-commerce 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 contributes to the growth of digital payment indicators and supports the objectives of the fintech strategy, reinforcing Saudi Arabia’s position as a global leader in the payments industry.

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Source Saudi Gazatte