The Saudi Central Bank (SAMA) introduced Google Pay. The statement was made during the Money 20/20 Middle East Conference and Exhibition in Riyadh, the capital of Saudi Arabia, according to the Saudi Press Agency (SPA). Using “Tap to Pay,” Google Pay enables customers to make safe payments in-store and, soon, in applications and online. Additionally, it makes it simple for consumers to add and manage credit cards like Visa and Mastercard as well as Mada cards within the Google Wallet app.
Users can use Google Pay to make safer payments with several security features. This includes industry-standard tokenization, which uses a virtual card number (a token) to process payments when they utilize Google Pay. A dynamic security code that varies with every transaction is linked to this device-specific token. SAMA underlined that the launch of Google Pay is a component of continuous initiatives to address Saudi market demands and improve the Kingdom’s digital payment experience.
