Saudi Payments was established as a wholly owned subsidiary of SAMA with the mandate to continue the legacy of SAMA by continuing to develop secure, interoperable national payment infrastructure, serving banks and fintechs equally, and providing the required standardization to ensure all providers have a level playing field.
1952Saudi Arabian Monetary Authority (SAMA) was established in the Era of King Abdulaziz, may Allah bless his soul, under royal decrees issued on 20/4/1952.
1990April, 1990, SAMA established the Saudi Payment Network (SPAN), aiming at encouraging the use of E-transactions provided by the banking system.
1997The Saudi Arabian Riyal Interbank Express Electronic System (SARIE) was launched on 14/5/1997.
2004SADAD Payments System (SADAD) was launched on 3/10/2004.
2015In 2015 mada was born, which is the new identity of SPAN, that represents the innovative generation of electronic payments in Saudi Arabia.
2018In 2018 Esal went live.
2019In 2019 the General Department of Payment Systems and SADAD Payment System merged under the name of Saudi Payments.
Why Saudi Payments?
At Saudi Payments, we believe that the success of the company starts with each individual's contribution and hence we invest in the skills and expertise of each individual to make that happen. We aim to create a work environment that is collaborative and innovative enabling individuals towards achieving their full potential and we are focused towards making progress in this ever-evolving world by encouraging innovation within the organization as managing and maintaining payment solutions is the most crucial aspect of our business strategy.Visit our LinkedIn