Etihad Etisalat Company (Mobily) announced that Etihad Fintech Company (Mobily Pay) has been licensed by the Saudi Central Bank (SAMA) to conduct Payments and E-Wallet Services, offering leading individuals and corporates financial services.
The announcement came on the sidelines of the Global Entrepreneurship Congress (GEC), held in Riyadh under the auspicious patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince of Saudi Arabia. Licensing Mobily Pay by SAMA aligns with Mobily’s strategies to diversify services and business portfolio across industries, with Fintech being a key pillar of the strategy.
Mobily Pay, as per the license, will offer users digital financial services; including sending and receiving money transfers within Saudi Arabia and beyond, bill payments, bank card issuance; while optimizing customer experience, and offering them user-friendly, efficient, and convenient digital channels to conduct their transactions.
“We express our utmost gratitude to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and HRH Prince Mohammed bin Salman bin Abdulaziz, Crown Prince of Saudi Arabia for the multitude of programs and initiatives that are boosting the growth and progress of the Saudi economy; such as the Financial Sector Development Program as part of Vision 2030,” said Eng. Salman Al-Badran, CEO of Mobily. “I would also like to thank H.E. Fahad Al-Mubarak, Governor of the Saudi Central Bank, H.E. Dr. Fahad Ibrahim Al Shathri, Deputy Governor for Supervision, as well as the Department of Supervision of Payment Systems and Companies at SAMA for their unlimited support and cooperation to support Fintech companies.”
Mobily Pay is a wholly owned subsidiary of Etihad Etisalat Company (Mobily); established to address customers’ needs by offering comprehensive individual and corporate Fintech solutions. Mobily Pay solutions are set to be made available to all customers across the Kingdom through major application stores on smart devices, with more details about the launch of the company’s offerings coming soon.
“At Mobily, we set our strategy based on various digital transformation channels; striving to further drive the digitization and modernization efforts in Saudi Arabia as part of Vision 2030. The licensing of Mobily Pay is an indication of us being on the right track of growth and development across various industries, to support the Kingdom’s achievements in the fields of communication and technologies, while embodying Mobily’s capabilities to offer new and innovative services in telecoms and Fintech,” added Eng. Al-Badran.