The Saudi Payments Network ( ar, الشبكة السعودية للمدفوعات) or mada ( ar, links=no, مدى, lit=Extend, formerly SPAN) is the only and major payment system in the kingdom of

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...

established by Ministry of Finance under the supervision of Saudi Central Bank. It connects all ATM and

Point of Sale The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice f ...

(PoS) terminals throughout the country to a central payment switch which in turn re-routes the financial transactions to the card issuer (local bank,

Visa Visa most commonly refers to: *Visa Inc., a US multinational financial and payment cards company ** Visa Debit card issued by the above company ** Visa Electron, a debit card ** Visa Plus, an interbank network *Travel visa, a document that allows ...

American Express American Express Company (Amex) is an American multinational corporation specialized in payment card services headquartered at 200 Vesey Street in the Battery Park City neighborhood of Lower Manhattan in New York City. The company was found ...

or MasterCard). All banks in Saudi Arabia are required by the

Saudi Central Bank The Saudi Central Bank ( ar, البنك المركزي السعودي), previously known as the Saudi Arabian Monetary Authority (SAMA; ar, link=no, مؤسسة النقد العربي السعودي), established in 1952, is the central bank of ...

(SAMA) to issue

ATM card An ATM card is a payment card or dedicated payment card issued by a financial institution (i.e. a bank) which enables a customer to access their financial accounts via its and others' automated teller machines (ATMs) and to make approved point of ...

s fully compatible with the network. All services are provided to the customer free of charge, regardless of the ATM used, its operator, or the customer's card issuer. Mada provides its services through over than 17,000 ATM machines and over 225,000 POS terminals in the Kingdom. In cooperation with global payment systems such as

, MasterCard, and Maestro, mada allows access to millions of ATMs and POS terminals worldwide. The network has recently been upgraded to SPAN2 which is compliant with

EMV EMV is a payment method based on a technical standard for smart payment cards and for payment terminals and automated teller machines which can accept them. EMV stands for " Europay, Mastercard, and Visa", the three companies that created th ...

standards and implements a higher capacity infrastructure and therefore less processing time, especially at POS terminals, resolving a major problem of the first generation SPAN system.

Member banks in the network

Al-Rajhi Bank The Al Rajhi Bank ( ar, مصرف الراجحي) (previously known as Al Rajhi Banking and Investment Corporation) is a Saudi Arabian bank and the world's largest Islamic bank by capital based on 2015 data. The bank is a major investor in S ...

Al Bilad Bank Bank Albilad ( ar, بنك البلاد) is an Islamic Saudi bank established in 2004. History Bank Albilad is a Saudi joint stock company, headquartered in Riyadh. In May 2022 its shareholders approved an increase in capitalization to 10 billion S ...

Arab National Bank The anb is a major bank based in Riyadh, Saudi Arabia and listed on the Saudi Stock Exchange. It is among the top ten largest banks in the Middle East and has received an 'A' rank from Standard and Poor's. It has 156 branches in Saudi Arabia. Its ...

Bank AlJazira A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

# Emirates International Bank # National Commercial Bank #

Riyad Bank Riyad Bank is one of the largest financial institutions in Saudi Arabia, ranked fourth in assets

# SABB # AlAwal Bank #

Banque Saudi Fransi Banque Saudi Fransi (BSF) (Arabic: البنك السعودي الفرنسي) is a Saudi Joint Stock company which was established in 1977. The bank is affiliated with Crédit Agricole Corporate and Investment Bank. Credit Agricole CIB is a full ...

# Saudi Investment Bank #

Samba Financial Group Samba Financial Group SJSC, formerly known as The Saudi American Bank, was a Saudi multinational banking firm based in Saudi Arabia. The combined institution had 66 branches in the Kingdom. Samba merged with NCB to form Saudi National Bank on 1 ...

National Bank of Kuwait The National Bank of Kuwait (NBK) was founded in 1952. It is the largest financial institution in Kuwait Kuwait (; ar, الكويت ', or ), officially the State of Kuwait ( ar, دولة الكويت '), is a country in Western Asia. It ...

Bank Muscat Bank Muscat is a financial services provider in the Sultanate of Oman providing corporate banking, retail banking, investment banking, treasury, private banking and asset management. The bank, with assets worth US$ 31.9 billion in 2018, has the ...

National Bank of Bahrain National Bank of Bahrain (NBB) was established in 1957 as the first indigenous bank in Bahrain. They are a nationwide network of 25 branches, 61 ATMs, and over 4,000 points of sale terminals in addition to their branches in Abu Dhabi and Riyad ...

# Alinma Bank #

Gulf International Bank Gulf International Bank (GIB) was established in 1976 during the first oil boom and is incorporated in the Kingdom of Bahrain as a conventional wholesale bank. It is licensed by the Central Bank of Bahrain and is headquartered in Manama in Bahra ...

References

External links

SPAN home page
Banks of Saudi Arabia Interbank networks Payment networks {{Portal, Saudi Arabia

Member banks in the network

See also

References

External links