Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) has announced a partnership with Google to introduce Google Pay in Saudi Arabia via the national payment system 'mada', with the service set to launch in 2025.
This initiative aligns with SAMA's strategic efforts to enhance the Kingdom's digital payments ecosystem in accordance with Saudi Vision 2030. The introduction of advanced digital payment solutions aims to reduce cash dependency, promote financial innovation, and establish a world-class infrastructure that meets global standards.
SAMA is the central authority responsible for monetary stability and the development of payment systems in Saudi Arabia. The organization plays a crucial role in advancing financial inclusion and facilitating the Kingdom's transition to a digital-first economy.
Google, a leading multinational technology corporation, offers a range of digital products and services. Through Google Pay, the company has transformed payment experiences by providing secure, seamless transactions across various platforms.
The launch of Google Pay in Saudi Arabia will offer users a secure and convenient payment method, allowing them to add and manage their cards within Google Wallet, thereby meeting the demand for advanced and reliable payment options in the market.
This collaboration also positions Saudi Arabia as a global FinTech leader, underscoring its commitment to innovation and technology-driven transformation.