The Media and Awareness Committee of Saudi Banks revealed the ambitions of the banking sector for the growth of electronic points of sale that exceeds the 900 thousand points, according to preliminary studies that confirmed the sector's ability to achieve the goal, and statistics indicate the significant increase in the number of electronic points of sale in the Kingdom, estimated at 40 thousand new points of sale within half a year, bringing the average number of electronic points of sale to more than 180 thousand points.

<In this context, Talaat Hafez, Secretary General of the Media and Awareness Committee of Saudi Banks, confirmed the satisfaction of the banking sector with the results of the ongoing gradual transformation plans of the Saudi Payments Network to its new logo and identity under the name “Mada”. He explained that Saudi banks and banks are racing to popularize the new Saudi Payments Network Mada for several considerations, primarily the desire to transform the Saudi society from the usual cash transactions, which amount to about 84% of all financial transactions in the Kingdom to electronic transactions which will allow ease and flexibility in financial transactions whether in terms of what is related to <It is worth mentioning that the advanced identity of the Saudi Payments Network “Mada” has been well received by the community in the Kingdom, as it has spread quickly and at a good pace among citizens and residents, and the restructuring of the previous fees of the Saudi Payments Network has become an attractive factor for merchants to expand the development of more points of sale due to the accuracy and speed provided by the new network due to the increased capacity of its capabilities compared to the previous system and new services such as cash service, which will be followed by other services to be announced when it is ready. It is worth mentioning that the 51st report issued by the Saudi Arabian Monetary Agency (SAMA) included an increase in the percentage of sales through electronic point of sale in 2014 to reach 169.9 billion riyals, which confirms the increasing awareness and confidence of the community in the use of modern banking technology and its developments.