Total value of the transactions.
mada is the brand name for the payment scheme in Saudi Arabia. mada central payment switch processes all inter-bank automated teller machines (ATMs) transactions and directly drives all point-of-sale (POS) terminals on behalf of acquirer banks throughout the country.
- Simplifying project initiation and execution by members banks, terminal vendors and card vendors via online, easily accessible portals.
- Incorporating market demands to support other payment scheme requirements.
- Empowering end users to deliver pre-certification testing in-house and in turn generating new revenue stream.
Fime’s expertise in supporting payment schemes made them stand out as the partner that could help us to realize the Saudi Arabia’s Vision 2030 goal of a cashless society and to deliver a truly world-class, testing and certification service.
Ziad Al YousefManaging Director
at Saudi Payments
mada launched its own card payment scheme with a vision to offer a domestic, open-loop, multilateral system to all Saudi Arabian banks.
To realize this vision, it undertook a large IT transformation program to enhance multiple systems, infrastructure and service capabilities. One of the key areas for improvement was the certification center, including test tools, methodologies and processes.
It also required expert support to create a world-class, extensible service that would enable staff and end-users (including member banks, POI and payment instrument vendors) to utilize test and certification services that are easily available, secure, fully automated and efficient.
Fime was able to support from the very start, helping it define, design, deliver and validate a state-of-the-art, bespoke cloud-based testing platform and certification process. It provided consultancy support to develop its automated online test platform, operational 24/7.
In addition to the new test platform, Fime also helped create all the relevant test plans, including ATM, POS and L3 issuing and acquiring for banks.
Moreover, it worked to digitize the entire certification flow, dramatically reducing the resources needed to manage its certification center and fast tracking banks and vendors path to certification.
Working with Fime
Throughout the project, Fime:
- Championed innovation, creating a cloud-based system that’s the first of its kind.
- Utilized its unrivalled experience supporting payment schemes across the globe to define a service that best fits the needs of mada and its members.
- Provided technical expertise to define a world-class testing and certification platform to ultimately accelerate the creation of an innovative financial infrastructure.
- Worked closely and communicated regularly with all partners to ensure the project was delivered in a timely manner and all parties worked efficiently together.