SAMA and Samsung to Launch Samsung Pay in Saudi Arabia

The Saudi Central Bank (SAMA) has announced an agreement to enable the launch of Samsung Pay in Saudi Arabia during the fourth quarter of 2024, expanding the digital wallet ecosystem for customers of Saudi banks.

The launch will allow Samsung Galaxy device owners to add their bank cards to Samsung Pay and make contactless payments at merchant terminals across the Kingdom. SAMA said the introduction of Samsung Pay supports Saudi Arabia's goals of reducing cash dependency and increasing digital payment adoption as part of its Vision 2030 programme.

Samsung Pay's entry into Saudi Arabia adds another major digital wallet to a market that has been progressively opening to mobile payment platforms. Apple Pay has been available in the Kingdom for several years, and the addition of Samsung Pay extends mobile payment access to the substantial Android user base in Saudi Arabia.

The agreement between SAMA and Samsung reflects the regulator's active role in facilitating digital payment infrastructure in the Kingdom. Unlike many markets where mobile wallet launches are driven entirely by commercial agreements between technology companies and banks, SAMA's direct involvement signals the strategic importance the Saudi government places on payment system modernisation.

Saudi banks are expected to begin issuing Samsung Pay-compatible cards ahead of the Q4 launch, with major institutions likely to support the platform from day one. The rollout is expected to drive a meaningful increase in contactless payment adoption, particularly among younger consumers who prefer mobile-first payment experiences.