2007 News Story
 

06/27/2007
Saudi Arabia introduces new centralized payment system

Saudi Arabia yesterday launched a new centralized payment system to that will make it easier for people to pay their bills, the Arab News reported today.


The new system, called “Sadad,” allows citizens and residents to combine their utility and service bills onto one bill, which can be paid at any sales point or at any ATM machines by the end of this year.

The payer is not required to be a customer of a particular bank to use the new system and will not be charged a fee for using the service.

People will be able to use Sadad to pay bills from the passport department, the traffic police, banks, water department, as well as the electricity company and several airlines.

Sadad is the Kingdom’s most recent innovative payment system. The Saudi Payments Network (SPAN) was established in 1990, and the Saudi Arabian Riyal Interbank Express (SARIE) in 1997.

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