Mastercard has collaborated with the national payment system of the Kingdom, mada, on the rollout of Apple Pay in the country.
The move is the latest step in Mastercard’s ongoing drive to bring Saudi consumers faster, easier, and more secure digital payments.
Security and privacy are at the core of Apple Pay. When you use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorised with a one-time unique dynamic security code.
Ziyad Al-Yousef, Managing Director, mada, said, “We are pleased to collaborate with Mastercard and to bring the benefits of Apple Pay to Saudi Arabia. The rollout of this fast and convenient solution is poised to transform how consumers in the Kingdom pay for goods and services, and is an important step in the government’s ongoing digitisation drive in line with the goals of Saudi Vision 2030 and the Financial Sector Development Program (FSDP).”
As part of the partnership, Mastercard will leverage its innovative Mastercard Digital Enablement Service (MDES), which employs advanced payment technologies including EMV standards, tokenisation, and cryptography for transactions processed through the Mastercard network, while mada’s tokenisation platform handles local transactions, ensuring the integrity of cardholder information locally and internationally.
Apple Pay will initially be available to Mastercard cardholders with National Commercial Bank and Riyad Bank.
J.K. Khalil, General Manager, Saudi Arabia and Bahrain, Mastercard, said, “Saudi Arabia is home to a young, tech-savvy population who are keen to adopt innovative solutions that provide seamless payment experiences. Our collaboration with mada represents another milestone in our mutual efforts to enhance the Kingdom’s digital ecosystem. The speed and simplicity of Apple Pay, coupled with the peace of mind Mastercard’s multi-tiered approach to safety and security brings to every purchase, will further accelerate the uptake of cashless transactions in the region and contribute to our global vision of a world beyond cash.”
Apple Pay is easy to set up and users will continue to receive all the rewards and benefits offered by their credit and debit cards. In stores, Apple Pay works with iPhone SE, iPhone 6 and later, and Apple Watch.
