One of the most important goals of SADAD is to create a challenging environment where billers compete to serve their clients by providing convenient electronic payment solutions using SADAD payment system. SAMA intends to connect all banks and billers via electronic channels where bills can be viewed and paid all around the Kingdom. By using SADAD electronic payment system cash usage will be reduced, fore cash usage can be risky either by being stolen, lost, or damaged. Therefore people will not need to carry cash in order to pay their bills. In the existing system all billers are related to a bank or several banks via a special system which does not apply to the other billers in the same bank, or with other banks to the same billers. That’s why SAMA was obligated to unify linking operations related to the payment systems used, so that it connects all the billers with all the banks, which makes electronic linking easier and to get rid of developing new system to connect a new biller who hasn’t been connected before. Electronic payment is one of the new payment methods that have been used in The Kingdom of Saudi Arabia recently; a lot of people haven’t used this kind of payment fearing the security factor, that’s why SAMA has direct supervision as the central bank on such kind of payment operations, which gives the system sufficient dependence for the client, fore SAMA carries out reviewing and developing the system regularly for the greatest safety possible for the operations of electronic payments.
