Saudi Arabia grants payment gateway certification to Tap Payments

By Delisha Fernandes

Tap Payments, a GCC-based FinTech provider, announced its payment gateway technology certification by Saudi Arabia’s national domestic payment network, Mada.

The certification positions Tap Payments as one of the FinTech companies in the region to build its proprietary payment gateway technology and secure certification for Saudi Arabia’s national domestic payment network, Mada.

This will enable businesses to leverage unique payment features and technologies the Saudi Payments network provides. Among these features is the ability to tokenise cards and securely store them for clients, a capability recently introduced by Mada. This innovation streamlines checkout experiences and boosts conversion rates for businesses.

“Achieving payment gateway certification from Saudi Payments is in line with the Financial Sector Development Program (FSDP), a key part of the Kingdom’s 2030 Vision and a step toward having a cashless society and achieving the 70% target of non-cash transactions by 2025. Our goal is to simplify the payment process for businesses and help them grow and thrive as we grow the region together,” states Ali Abulhasan, Co-Founder and CEO of Tap Payments.

Businesses operating in Saudi Arabia can streamline payment operations and strengthen their financial performance by offering a comprehensive range of payment options and value-added services under a single contract. Tap’s unified approach simplifies payment processes and procedures, fostering business growth.

“Partnering with Saudi Payments allows us to collaborate in building meaningful technologies that have a major impact on digitising payments and elevating the payment experience for cardholders in the region. It allows businesses to roll out recurring subscription payments and on-demand payments to evolve the transformation of digital commerce and the adoption of IOT (Internet of Things) commerce,” said Sultan Alonazi, Managing Director for Saudi Arabia, Tap Payments.