Visa United Saudi Mada launches NFC payment application Mada Pay
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Recently, Visa United Saudi local payment network Mada launched an Android based NFC payment application Mada Pay, which is the first mobile payment scheme in Saudi Arabia.
The visa and debit cards issued by Saudi Arabia, as well as the dual-label cards issued by Visa and Mada, can be tied to Mada Pay for payment at visa non-connection terminals.
The Mada Payment application uses Visa’s token service to replace the entity card number with a 16-bit tagged number to secure the transaction.
It can be concluded that visa and Mada launch of the Mada pay using the Hce+token program, with NFC-enabled Android phones are available to use this application for non-payment.
It is understood that “Mada”, similar to UnionPay, is the most widely used payment network in Saudi Arabia. Its predecessor was the Saudi Payment Network (SPAN).
In 2015, Saudi Arabia developed a new generation of electronic payment services, upgrading (SPAN) to “Mada”. Mada Card is designed to reduce the consumer’s reliance on cash payments.