https://vision2030.ai/tags/stc-pay/Recent content in Stc-Pay on SAUDI VISION 2030 Intelligence PlatformHugoenSat, 18 Apr 2026 00:00:00 +0000https://vision2030.ai/sectors/financial-services/payments/Sun, 22 Feb 2026 00:00:00 +0000https://vision2030.ai/sectors/financial-services/payments/<p>Saudi Arabia&rsquo;s digital payments market is now defined by the mada network, stc Pay&rsquo;s conversion into a digital bank, and near-universal mobile wallet acceptance. From a starting point where approximately 60 percent of point-of-sale transactions were conducted in cash in 2016, the Kingdom has achieved a digital payment share exceeding 70 percent by 2025, meeting and surpassing the <a href="https://vision2030.ai/analysis/vision-2030-assessment/">Vision 2030</a> Financial Sector Development Programme target years ahead of schedule.</p> <h2 id="national-payment-infrastructure">National Payment Infrastructure</h2> <p>Saudi Payments, a wholly owned subsidiary of <a href="https://vision2030.ai/institutions/sama/">SAMA</a>, operates the national payment infrastructure that underpins the Kingdom&rsquo;s cashless transition. The organisation manages multiple payment systems serving different transaction types and value thresholds.</p>