Saudi Arabia is pushing ahead with its modernization drive as Saudi Payments, owned by the Saudi Central Bank, has partnered with Visa to launch a low-cost contactless payment technology for small and micro-businesses.
The “Tap to phone” solution uses near-field communication technology to allow these businesses to accept payments via their smartphone devices, without having to invest in a separate point of sale device.
The “Tap to phone” solution uses near-field communication technology to allow these businesses to accept payments via their smartphone devices
The move is in line with Saudi Arabia’s goal to modernize its financial system by making innovation accessible to all segments of society.
