Etihad Etisalat Co. (Mobily) announced that its wholly-owned subsidiary, Etihad Fintech Co. (Mobily Pay) has been licensed by the Saudi Central Bank (SAMA) to conduct payments and e-wallet services, offering comprehensive individual and corporate fintech solutions.
Licensing 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, and bank card issuance, while optimizing customer experience by offering user-friendly, efficient, and convenient digital channels to conduct their transactions.
“At Mobily, we set our strategy based on various digital transformation channels; striving to further drive the digitization and modernization efforts 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 technologies, while embodying Mobily’s capabilities to offer new and innovative services in telecoms and fintech,” said Eng. Salman Al-Badran, CEO of Mobily.
Mobily Pay solutions 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.