BankingBusiness

Saudi Payments: Switches on instant payment system

  • Saudi Payments
 encourage innovation and strengthen the financial sector in the Kingdom, the leading payments brands in Saudi Arabia
  • Announced the launch of Saudi Arabia’s instant payments system ‘sarie’ in cooperation with IBM and Mastercard
  • This collaboration marks a key milestone for payments innovation in the region and  aligned with Saudi Payments’
  • Today, ‘sarie’ supports all Saudi banks across the Kingdom and available for use by their customers
  • The introduction of ‘sarie’ in line with Saudi Arabia’s Financial Sector Development Program (FSDP) under Saudi Vision 2030
  • Saudi Payments selected IBM GBS the services and consultancy arm of IBM, to lead the project as the SI partner
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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