The Banking Executive Magazine - March 2022 Issue

Mobily Pay Mobily Pay AWARDED LICENSE TO OFFER DIGITAL PAYMENTS AND E-WALLET SERVICES Etihad Etisalat Company (Mobily) an- nounced that Etihad Fintech Com- pany (Mobily Pay) has been licensed by the Saudi Central Bank (SAMA) to conduct Payments and E-Wallet Services, offering leading individuals and corporates financial services. The announcement came on the sidelines of the Global Entrepreneur- ship Congress (GEC), held in Riyadh under the auspicious patronage of His Royal Highness Prince Mo- hammed bin Salman bin Abdulaziz, Crown Prince of Saudi Arabia. Li- censing Mobily Pay by SAMA aligns with Mobily’s strategies to diversify services and business portfolio across industries, with Fintech being a key pillar of the strategy. Mobily Pay, as per the license, will offer users digital financial services; including sending and receiving money transfers within Saudi Arabia and beyond, bill payments, bank card issuance; while optimizing cus- tomer experience, and offering them user-friendly, efficient, and conven- ient digital channels to conduct their transactions. “We express our utmost gratitude to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and HRH Prince Mohammed bin Salman bin Abdulaziz, Crown Prince of Saudi Arabia for the multitude of programs and initiatives that are boosting the growth and progress of the Saudi economy; such as the Fi- nancial Sector Development Pro- gram as part of Vision 2030,” said Eng. Salman Al-Badran, CEO of Mo- bily. “I would also like to thank H.E. Fahad Al-Mubarak, Governor of the Saudi Central Bank, H.E. Dr. Fahad Ibrahim Al Shathri, Deputy Governor for Supervision, as well as the De- partment of Supervision of Payment Systems and Companies at SAMA for their unlimited support and cooper- ation to support Fintech companies.” Mobily Pay is a wholly owned sub- sidiary of Etihad Etisalat Company (Mobily); established to address cus- tomers’ needs by offering compre- hensive individual and corporate Fintech solutions. Mobily Pay solu- tions are set to be made available to all customers across the Kingdom through major application stores on smart devices, with more details about the launch of the company’s offerings coming soon. “At Mobily, we set our strategy based on various digital transformation channels; striving to further drive the digitization and modernization ef- forts in Saudi Arabia as part of Vision 2030. The licensing of Mobily Pay is an indication of us being on the right track of growth and development across various industries, to support the Kingdom’s achievements in the fields of communication and tech- nologies, while embodying Mobily’s capabilities to offer new and innova- tive services in telecoms and Fin- tech,” added Eng. Al-Badran. the BANKING EXECUTIVE 18 ISSUE 159 MARCH 2022