Dubai: The Saudi Central Bank (SAMA) launched a new e-commerce payments interface, marking a major step in enhancing the Kingdom’s digital payment infrastructure.

The initiative aims to streamline online payment processes by enabling e-commerce providers to integrate with both the national “mada” payment system and international payment networks. This will offer consumers a wider range of secure and seamless payment options, using unified technical standards.

A key feature of the interface is a centralized registration service, allowing banks and financial institutions to develop innovative financing solutions tailored to online businesses. Additionally, the system leverages advanced technologies such as payment card tokenization to bolster transaction security.

This move supports SAMA’s broader strategy to develop the digital payment ecosystem, promote fintech growth, and solidify Saudi Arabia’s position as a leader in the global payments industry. The interface is expected to benefit the rapidly growing number of online merchants, payment gateways, and service providers operating in the Kingdom.

Author Credits- Justin Varghese
Gulf News