Riyadh – Saudi Payments has signed an agreement with the Saudi finance ministry to develop cash payments to government employees, the company’s CEO said.
The Saudi firm works on providing infrastructure to banking and non-banking institutions, Ziad Al Yousef said on the sidelines of the Financial Sector Conference (FSC) held in Riyadh.
The deal aims to convert cash payments into digital transactions, Al Yousef added.
Saudi Payments, a subsidiary of the Saudi Arabian Monetary Authority (SAMA), will announce on Wednesday signing several deals with a number of banks to launch the quick response (QR) code payment system, he noted.
Translated by: Zeinab Adel
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