RIYADH: Saudi Payments, owned by the Saudi Central Bank (SAMA), sais Geidea Solutions and STC Pay have joined the national payment system, “Mada” as the first two non-bank entities, SPA reported.
STC Pay will be able to issue Mada cards (digital and plastic), which will allow customers to make electronic payments through points of sale and websites, or to withdraw cash through ATMs inside the Kingdom.
Geidea Solutions will be able to provide hosting services for point of sale (POS) devices to merchants directly, and provide them with POS devices with full services.
Saudi Payments said it would continue to work to enable financial technology companies to provide innovative payment solutions.
This has a direct impact on enhancing competitiveness among banks and non-banking financial institutions to provide the best offers of electronic payment solutions, it said.
Saudi Payments enables non-bank entities to join national payment system
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Saudi Payments enables non-bank entities to join national payment system
- Saudi Payments said it would continue to work to enable financial technology companies to provide innovative payment solutions
Closing Bell: Saudi main index climbs to 10,485
RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Sunday, gaining 34.32 points, or 0.33 percent, to close at 10,484.59.
The total trading turnover of the benchmark index stood at SR2.59 billion ($690 million), with 168 listed stocks advancing and 87 declining.
The Kingdom’s parallel market Nomu also gained 100.37 points to close at 23,454.65.
The MSCI Tadawul Index advanced by 0.13 points to 1,377.44.
The best-performing stock on the main market was Nama Chemicals Co., whose share price increased by 9.98 percent to SR22.38.
The share price of Al Masar Al Shamil Education Co. rose by 9.15 percent to SR23.85.
Saudi Paper Manufacturing Co. also saw its stock price climb by 8.42 percent to SR57.95.
Conversely, the share price of Canadian Medical Center Co. dropped by 6.37 percent to SR6.03.
The stock price of Kingdom Holding Co. also declined by 3.16 percent to SR8.28.
In the parallel market, Alfakhera for Mens Tailoring Co. was the top performer, with its share price advancing by 16.40 percent to SR8.80.
On the announcements front, Theeb Rent a Car Co. said it had signed a long-term vehicle leasing services contract valued at SR110.4 million with Hungerstation Co.
Under the deal, Theeb will lease 2,000 vehicles to HungerStation for a period of four years starting from 2026, according to a Tadawul statement.
The statement added that the vehicles will be delivered in batches within the first six months from the contract start date, taking into consideration global logistical circumstances and procedures beyond the control of both the agents and the company.
The contract is expected to have a positive impact on the company’s financials from the first quarter of 2026.
The share price of Theeb Rent a Car Co. declined by 0.79 percent to SR37.80.
