The Saudi Payments Network ( ar, الشبكة السعودية للمدفوعات) or mada ( ar, links=no, مدى, lit=Extend, formerly SPAN) is the only and major payment system in the kingdom of

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the List of Asian countries by area, fifth-largest country in Asia ...

established by Ministry of Finance under the supervision of Saudi Central Bank. It connects all

ATM ATM or atm often refers to: * Atmosphere (unit) or atm, a unit of atmospheric pressure * Automated teller machine, a cash dispenser or cash machine ATM or atm may also refer to: Computing * ATM (computer), a ZX Spectrum clone developed in Mo ...

and

Point of Sale The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice f ...

(PoS) terminals throughout the country to a central payment switch which in turn re-routes the financial transactions to the card issuer (local bank, Visa,

American Express American Express Company (Amex) is an American multinational corporation specialized in payment card services headquartered at 200 Vesey Street in the Battery Park City neighborhood of Lower Manhattan in New York City. The company was found ...

or MasterCard). All banks in Saudi Arabia are required by the Saudi Central Bank (SAMA) to issue

ATM card An ATM card is a payment card or dedicated payment card issued by a financial institution (i.e. a bank) which enables a customer to access their financial accounts via its and others' automated teller machines (ATMs) and to make approved point ...

s fully compatible with the network. All services are provided to the customer free of charge, regardless of the ATM used, its operator, or the customer's card issuer. Mada provides its services through over than 17,000 ATM machines and over 225,000 POS terminals in the Kingdom. In cooperation with global payment systems such as Visa, MasterCard, and Maestro, mada allows access to millions of ATMs and POS terminals worldwide. The network has recently been upgraded to SPAN2 which is compliant with EMV standards and implements a higher capacity infrastructure and therefore less processing time, especially at POS terminals, resolving a major problem of the first generation SPAN system.

Member banks in the network

Al-Rajhi Bank The Al Rajhi Bank ( ar, مصرف الراجحي) (previously known as Al Rajhi Banking and Investment Corporation) is a Saudi Arabian bank and the world's largest Islamic bank by capital based on 2015 data. The bank is a major investor in S ...

Al Bilad Bank Bank Albilad ( ar, بنك البلاد) is an Islamic Saudi bank established in 2004. History Bank Albilad is a Saudi joint stock company, headquartered in Riyadh. In May 2022 its shareholders approved an increase in capitalization to 10 billion ...

# Arab National Bank #

Bank AlJazira A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Becau ...

Emirates International Bank Emirates may refer to: * United Arab Emirates, a Middle Eastern country * Emirate, any territory ruled by an emir ** Gulf emirates, emirates located on the Persian Gulf ** Emirates of the United Arab Emirates, the individual emirates * The Emir ...

# National Commercial Bank # Riyad Bank #

SABB SABB may refer to: *SABB (Saudi bank) or Saudi British Bank, a subsidiary of HSBC * SABB S.A., an Argentine rolling stock manufacturer. Sabb may refer to: *Sabbatical officer or sabb, in UK students' unions * Sabb., an abbreviation related to the ...

# AlAwal Bank # Banque Saudi Fransi #

Saudi Investment Bank Saudi may refer to: * Saudi Arabia * Saudis, people from Saudi Arabia * Saudi culture, the culture of Saudi Arabia * House of Saud The House of Saud ( ar, آل سُعُود, ʾĀl Suʿūd ) is the ruling royal family of Saudi Arabia. It is c ...

# Samba Financial Group #

National Bank of Kuwait The National Bank of Kuwait (NBK) was founded in 1952. It is the largest financial institution in Kuwait. With branches and subsidiaries in China, Geneva, London, Paris, New York and Singapore. And a regional presence across the Middle East in ...

# Bank Muscat # National Bank of Bahrain #

Alinma Bank Alinma Bank ( ar, مصرف الإنماء) is a Saudi joint stock company formed in accordance with Royal Decree No. M/15 dated 28 March 2006 and Ministerial Resolution No. 42 dated 27 March 2007. The bank was established with share capital of S ...

# Gulf International Bank

References

External links

SPAN home page
Banks of Saudi Arabia Interbank networks Payment networks {{Portal, Saudi Arabia

Member banks in the network

See also

References

External links