This partnership will enable mada network to accept JCB payments through the platform. This will facilitate local acquiring banks to accept JCB cards through their network of Point of Sale terminals and ATM terminals deployed throughout Saudi Arabia and also provide greater convenience for JCB's growing cardholders in Islamic markets such as Indonesia.
JCB will also be opening an office in Riyadh to develop and enhance its presence in the Saudi Arabian market. Saudi Payments is a subsidiary of the Saudi Arabian Monetary Authority, founded to operate and develop all major national payment systems, according to the official press release.
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