Riyadh, KSA: Saudi Payments, operating under the supervision of the Saudi Central Bank (SAMA), is participating as a strategic partner in the ninth annual Retail Leaders Circle MENA Summit (RLC MENA Summit), which will be held for the third time in Riyadh on March 7-8, 2023. Under the theme “Digital Economy and Purposeful Growth”, the summit will bring together leaders and CEOs of top brands in the retail and digital finance sectors in the region. By participating in the global event, Saudi Payments demonstrates its pivotal role in promoting Saudi retail sectors by providing a compelling suite of flexible, secure, and reliable services in line with the goals of the Financial Sector Development Program  (FSDP) to accelerate payments digitization.  

Saudi Payments will also join the accompanying exhibition on the sidelines of the ninth annual RLC MENA Summit, where it will showcase the evolution of digital payment solutions and their role in promoting competitiveness and innovation among local and international FinTech companies active in the Saudi market. The exhibition will offer a great opportunity to bring out Saudi Payments’ contributions in shaping the retail sectors, including the e-commerce sector, and in providing a digital payment ecosystem capable of elevating both the experience of beneficiaries and their customers.

Saudi Payments under the supervision of SAMA is making accelerated efforts to transition into a digital payments and has laid the foundation for e-payment methods. This triggered a momentous shift in consumer behavior with a substantial increase in e-payments adoption that resulted in decreasing cash transactions, reducing store operating costs, and increasing transparency. 

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About Saudi Payments:

Saudi Payments is the national foundation of digital payments and the developer and operator of the national payment infrastructure in the Kingdom of Saudi Arabia providing leading payment brands, such as mada, Sarie, SADAD, and Esal with the aim of digitalizing payments, in line with The Saudi Central Bank´s strategy and the aspirations of the Financial Sector Development Program (FSDP) towards achieving the goals of Saudi Vision 2030. The entity operates under the supervision of the Saudi Central Bank (SAMA), offering secure and interoperable digital payment solutions.

About Retail Leaders Circle:

Retail Leaders Circle (RLC) is an international platform with more than 7,000 global members, powered by the New York Institute of Management, for expert-led debate between CEOs, industry innovators, and influencers with the power to shape the future of the retail agenda. RLC is focused on inspiring leaders to think collectively and creatively about disruptive intersections between industry and innovation, with the ultimate goal of promoting and catalyzing growth development and partnership.

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