SAMA Approves Full License for Careem Pay, Boosting Saudi Digital Payments
The Saudi Arabian Monetary Authority (SAMA) has made significant strides in expanding digital payment options. On Tuesday, SAMA governor Dr. Ahmad bin Abdul Karim Al-Kholifey announced the full license approval for Careem Pay at a conference in Riyadh. This move follows the initial approval granted to both Careem Pay and Noon Pay earlier.
Careem Pay, a service by the ride-hailing giant Careem, can now offer features such as offline merchant payments and cross-border money transfers, thanks to its full license. This expansion allows users to leverage their mobile wallets for a broader range of services, potentially including mobile credit recharge, going beyond just Careem rides and food payments.
Noon, an e-commerce platform, aims to encourage its large userbase in Saudi Arabia to adopt its payment services. Noon Pay, led by Ali Alobaid, is expected to launch as a dedicated mobile wallet app, supporting various offline and online merchants. This development comes after SAMA's announcement at the Money20/20 Middle East conference in September 2025, where Google Pay's launch was approved, enabling Mada debit and digital credit cards via Google Wallet. SAMA also announced an agreement with Ant International, paving the way for Alipay+ approval starting in 2026.
The full license approval for Careem Pay and the expected launch of Noon Pay are set to boost digital payment options in Saudi Arabia. These developments, along with the earlier approvals, reflect SAMA's commitment to fostering innovation and competition in the fintech sector.
