<\/p>\n
The Saudi Arabian Monetary Authority has completed a review and enhancement of the technical procedures of the \u201cMada\u201d system to align them with the needs of the local market and global trends, and has established a set of standards designed to elevate the level of service to keep pace with the Kingdom\u2019s economic growth.<\/p>\n
In a statement, \u201cSAMA\u201d noted that the significant expansion of the \u201cMada\u201d system\u2019s capacity enabled banks to increase the number of point-of-sale terminals and deploy them on a large scale, resulting in an increase of more than 86,000 POS terminals in 2015, bringing the total to 225,000\u2014a growth rate of 62.4% compared to 2014.<\/p>\n
The statement noted that during 2015, \u201dSAMA\u201d added several diverse service sectors to the \u201cMada\u201d system, in addition to expanding and increasing its presence in the retail sector in general, This comes as part of a plan to increase the use of point-of-sale terminals and reduce reliance on cash, in tandem with the growth in the number of devices. The statement noted that the number of transactions processed through the \u201cMada\u201d system rose by 22.2% to reach 443 million transactions, while the value of transactions grew by 12.8% to reach 191.7 billion riyals during the same period.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span> The Saudi Arabian Monetary Authority (SAMA) has completed a review and enhancement of the technical procedures of the \u201cMada\u201d system to align with local market needs and global trends, and has established a set of standards designed to elevate service levels in line with the Kingdom\u2019s economic growth. In a statement, SAMA noted that the significant expansion of the \u201cMada\u201d system\u2019s capacity has enabled banks to increase the number of terminals\u2026 Read more<\/a><\/p>","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[120],"tags":[],"class_list":["post-9516","post","type-post","status-publish","format-standard","hentry","category-capital-markets"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0645\u0627\u0644<\/a>","tag_info":"\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0645\u0627\u0644","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/9516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=9516"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/9516\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=9516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=9516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=9516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}