• The Central Bank of Saudi Arabia (SAMA) officially announced the launch of Google Pay in Saudi Arabia enabled through the national payments system MADA during the Money 20/20 Middle East event held at the Riyadh Exhibition and Convention Center. Users will be able to add and manage mada debit cards and supported credit cards (Visa, Mastercard) via Google Wallet.

• Payments will work via Tap-to-Pay in stores, and soon also in apps and on the web. Transactions are secured using tokenization, which replaces actual card numbers with virtual tokens. Initial bank partners include Al Rajhi Bank and Riyad Bank, with more banks being rolled out in phases.

• Alongside Google Pay, Saudi Arabia is partnering with Ant International to enable Alipay+ acceptance by 2026.

Why It’s Important:
This is part of Saudi Arabia’s Vision 2030 push to enhance fintech infrastructure, reduce reliance on cash, boost financial inclusion, and digitize the economy. The move also supports SAMA’s goal to increase cashless transactions.