New Leap Obtain Tech. Permit to Secure E-Commerce, Direct Acceptance

Saudi Payments, operating under the full supervision of the Saudi Central Bank, announced that the global digital financial solutions company “New Leap” has obtained the necessary technical permit, to provide acceptance of e-commerce payments, directly through linkage to the Mada system, which aims to strengthen the structure of the e-commerce sector, in the Kingdom

Under the technical permit, made through the Saudi Payments’ permit center, New Leap will be able to provide more developed services for card payments through the Mada system to serve the e-commerce sector, contributing to meeting the purchasing needs of consumers and various business sectors.

The new services that will be provided by the company’s payment gateway support new types, such as storing card data securely and processing scheduled payments for electronic subscriptions (Recurring Payments), and supporting payments executed for preauthorization and capture, which will allow a larger segment of online stores benefit from these technical developments, as they are identical in kind to its operational operations, such as the hotel sector, rental offices, delivery applications and online shopping sites.

The Executive Director of Saudi Payments Abdulaziz Al-Afaleq praised this important step, as it enables various actors in the digital payments sector to develop the electronic payment system, in the Kingdom, stressing that this partnership will have a positive impact on the e-commerce sector, by developing local electronic payment system gates, and linking them to the “Mada” network, which will contribute to strengthening the infrastructure of electronic payments, in the Kingdom.

For his part, CEO of New Leap Adel Al-Rajhi confirmed that the company provides its digital solutions to contribute to achieving financial inclusion and achieving the Kingdom’s goals in digital financial leadership, and the financial sector’s goals, in the growth of digitization of payments, noting that “the company’s innovations will continue to achieve the best solutions for its clients, including establishments and individuals, as well.

The portal provides new services for electronic stores operating, in the Kingdom, including benefiting from the periodic or recurring payment process, as it allows customers holding Mada card to schedule payments related to specific periods, as well as benefiting from the authorization service that allows the online store to reserve the amount of a service provided it is done.

Deduction of the amount after customers Mada card holding, will benefit from the provided service, and the service of saving Mada cards, by allowing the merchant’s customer to save the encrypted data of the Mada card, during the first time use in purchases, with the aim of facilitating the payment process, in the future, with the merchant, without need to fill out forms or enter Mada card information, such as name, card number and expiry date, on using this system.

It is worth noting that “Saudi Payments is the operator of the national infrastructure for payment systems, under which the national payment system Mada falls, and its services in the Kingdom of Saudi Arabia play the role of the sector’s enabler, as it works to achieve the goals and aspirations of the Financial Sector Development Program, as part of the Kingdom’s Vision 2030 towards transformation into a cash-less society, by promoting electronic or online payments.