The Saudi Payments, a wholly owned subsidiary of the Saudi Central Bank (SAMA), has said that the electronic payments’ infrastructure in its Riyadh Buses project is ready for operation.
With this initiative, buses in Riyadh Buses will provide diversified payment methods, as the Saudi Payments aims to provide a flexible payment options to the users, accelerate their access to the buses through using a contactless payment cards. This move would reflect on achieving the targets of the financial sector development program, that aims to grow the digitization of payments.
It is noteworthy that the Royal Commission for Riyadh City (RCRC) has announced the launch of the first phase of the Riyadh Buses project, which comes within the King Abdulaziz Public Transport Project.
The Riyadh Buses project will provide integrated solutions for the public transportation in Riyadh, facilitating the transportation for all segments of society by using the buses as a means to reach their desired destinations such as work, schools, entertainment activities, amongst others. The project will significantly work on reducing the severance of traffic congestion in Riyadh, as people will not need to use vehicles.
The cooperation between Saudi Payments and the RCRC enhances the operation of the project’s first phase, as it will enable the beneficiaries to move with ease and comfort through 842 buses in 80 bus lanes, in addition to 2,860 stations.
Regarding payment methods, the beneficiaries will be able to pay electronically through Mada card and Darb card, which are charged in advance through the Mada system. This will strengthen the dependence of individuals on e-payment.
The Saudi Payments has worked on developing the e-payment in the public transportation sector to make all the payments methods through smartphones and plastic cards via the Near-Field Communication (NFC) — (Mada Atheer) that enjoys a high flexibility for the Riyadh Buses beneficiaries.
The Saudi Payments will also enable this method in all the future projects that will be conducted in Saudi Arabia, and contribute in developing the payments’ infrastructure via expanding the acceptance of various e-payment methods in various sectors.
This step comes to confirm the Saudi Payments role in supporting the major national projects through developing the payments’ infrastructure in Saudi Arabia and enhance its readiness.
It is considered the national pillar of e-payments, which will be providing safe and reliable basic payment services that achieve compatibility and ease of access.