Saudi Payments Network Overview and Key Information

The Saudi Payments Network is a vital part of the country's financial infrastructure, enabling secure and convenient transactions between individuals and businesses.

It was established in 2017 as a subsidiary of the Saudi Arabian Monetary Agency (SAMA), with the goal of creating a unified and efficient payment system.

The network has since grown to include a wide range of services and features, including instant payment services, mobile wallets, and online payment gateways.

With over 100 million transactions processed annually, the Saudi Payments Network plays a critical role in facilitating economic growth and development in the country.

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The Saudi Payments Network, also known as Mada, offers a range of services and features that make it easy to manage your finances. One of the key services is electronic payments through multiple channels.

Mada supports point-of-sale (POS) terminals, soft POS, automated teller machines (ATMs), and e-commerce platforms. This means you can make face-to-face transactions, accept payments via mobile devices, withdraw cash, and shop online.

The Mada network exclusively issues debit and prepaid cards that are co-branded with GCC NET and either Visa or MasterCard. This ensures international acceptance of your card.

Mada offers two primary payment services: Atheer and Naqd. Atheer is an NFC payment service that enables contactless transactions using Mada cards. Naqd is a service that allows cardholders to withdraw cash directly from merchants, eliminating the need to visit an ATM or bank branch.

You can also use the Mada Pay application on your Android device to make payments. This app supports the addition of Mada, MasterCard, and Visa cards issued by banks or digital wallets in Saudi Arabia.

Mada's services and features are designed to make your life easier, whether you're shopping online or in person.

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The Saudi Payments Network has established partnerships with a range of global payment networks to facilitate its use on POS devices, ATMs, and online gateways.

Mada, the national payment system, has partnered with VISA, MasterCard, Discover, Diners Club, American Express, UnionPay, JCB, and more to enable seamless transactions.

These payment networks are approved by SAMA and integrated through Mada, but acceptance by individual merchants may vary.

Some of the accepted payment networks include VISA Electron and VISA Plus, which are primarily available on ATMs, while others like MasterCard and Discover are accepted on POS terminals, ATMs, and online.

GCC Net, a regional payment network, is also accepted on POS terminals and ATMs through Mada.

The following payment networks are accepted on POS terminals, ATMs, and online: VISA, MasterCard, Discover, Diners Club, American Express, UnionPay, JCB, and more.

Here's a list of the accepted payment networks:

Alipay+ is also coming soon, with official launch expected in 2026.

Saudi Arabia has a well-established payments network, with a variety of banks and e-wallets participating in the MADA network.

Alinma Bank, Al-Rajhi Bank, and Arab National Bank are just a few of the local banks in Saudi Arabia that issue Mada cards and support Mada Pay.

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Here's a list of some of the local banks in Saudi Arabia that issue Mada cards and support Mada Pay:

Some digital banks in Saudi Arabia that issue Mada cards and support Mada Pay include D360 Bank, STC Bank, and Vision Bank.

The MADA network also includes foreign licensed banks in Saudi Arabia, such as Emirates NBD KSA and First Abu Dhabi Bank (FAB).

Expand your knowledge: List of Banks in Saudi Arabia

The MADA Identity is a digital identity system that enables individuals to access various services and transactions in Saudi Arabia.

MADA Identity is a government-led initiative that aims to provide a secure and convenient way for citizens and residents to conduct online transactions.

The MADA Identity is linked to the Saudi Payments Network, allowing users to access various services, such as paying bills, transferring funds, and more.

MADA Identity can be obtained through the Saudi Payments Network's website or mobile app, making it easily accessible to everyone.

To obtain a MADA Identity, users must provide required documents and information, which are then verified by the system.

MADA Identity is a secure system, using advanced encryption and authentication methods to protect users' personal and financial information.

Users can update their MADA Identity information, such as their address or phone number, through the Saudi Payments Network's website or mobile app.

The Saudi Payments Network has made significant strides in recent years, with over 6,000 ATMs and 110,000 POSs now connected to the network.

These numbers are a testament to the network's growing reach and accessibility. In 2006, more than 340 million transactions went through the network, with a total value of 160 billion SR.

The network has been upgraded to SPAN2, which is compliant with EMV standards and boasts a higher capacity infrastructure. This upgrade has resulted in less processing time, especially at POS terminals, resolving a major problem of the first generation SPAN system.