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Saudi Arabia Launches New Interface for E-commerce Payments

The Saudi Central Bank (SAMA) has launched a new e-commerce payments interface to foster the efficiency of the national payment infrastructure, according to the Saudi Press Agency.

The new interface facilitates online payment processes by integrating the local ‘mada’ payment network with international systems.

Therefore, users will have more payment options through unified technical standards, SAMA said.

Crucially, the bank also offered centralized registration to enable financial institutions to provide tailored financing solutions for online businesses.

Through advanced technologies such as payment card tokenization, the system seeks to improve the safety and security of financial transactions.

This move perfectly aligns with SAMA’s broader strategy to revolutionize the online payment infrastructure and encourage innovation in digital commerce.

Overall, it further solidifies Saudi Arabia’s payment services and financial technology.

 

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