Riyad Bank launches “SADAD Service” to enhance E-commerce
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31-May-2016
Riyad Bank strengthened its leading position among the banks that offer advanced electronic services with “SADAD Service”. SADAD Service is a system that manages cash collection easily through a secure electronic payment channel that collects due payments from the customer’s account and directly deposit them to the merchant’s account.
<p>Riyad Bank strengthened its leading position among the banks that offer advanced electronic services with “SADAD Service”. SADAD Service is a system that manages cash collection easily through a secure electronic payment channel that collects due payments from the customer’s account and directly deposit them to the merchant’s account. The service was launched recently by SAMA, which will support the national economy through creating the environment required for e-commerce, as well as supporting small Internet-based enterprises, consistent with the country’s vision to fully transform into digital banking and lower cash use across the Kingdom.</p><p>Shrouq Al-Hadyan, Head of Remote Banking Section at Riyad Bank, said that Riyad Bank was determined to be among the first banks to provide “SADAD Service” to its customers as part of the Bank’s keenness to increase the efficiency of its electronic payment services. Al-Hadyan praised SAMA’s efforts, through SADAD Service, to build a central platform that gathers banks and merchants as an essential step to automate payment options and create original ideas to boost the digital payment options in the Kingdom.</p>
