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Saudi Arabia introduces a new real-time payment system with IBM and Mastercard


Saudi Payments has introduced the kingdom’s new instant payment system “sarie” under the supervision of the Saudi Central Bank (SAMA).

The provision is made in cooperation with IBM and Mastercard. It is part of Saudi Payments’ plan to strengthen Saudi Arabia’s financial ecosystem.

The deal is part of the fintech development project in Saudi Arabia

Sarie is based on the ISO 20022 standard and automatically supports all Saudi banks across the UK. Saudi Payments says …



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