Vocalink: Partnered with Saudi Payments

Vocalink: Partnered with Saudi Payments

Vocalink: International payment systems provider, partnered with Saudi Payments to launch real-time payments

  • Saudi Payments, a subsidiary of SAMA, teamed up with Mastercard company Vocalink
  • The partnership aim is upgrading the payments infrastructure and boosting the digital economy
  • It enables credit transfers between financial institutions, businesses, and consumers
  • The technology also enables instant, mobile-based P2P money transfers between friends and family
  • Built on the latest ISO messaging standards, the payment system will support anti-fraud and compliance processes
  • Vocalink’s real-time payments technology was first implemented in the UK in 2008