1952 Established Saudi Central Bank 1990 Launched the Saudi Payment Network (SPAN) services for ATMs 1993 Launched the Point of Sale service. 1994 Accepted SPAN transactions in the countries of the Gulf Cooperation Council through the Gulf payments network (GCC) 2008 Implementing international security standards to all bankcards issued in the Saudi Arabia 2008 Implementing the international system for smart payment card standards 2010 Developed a five-year plan for cash handling reduction 2012 Achieved complained with the international payment card security standard (PCI) 2015 Launched the new identity of the Saudi Payment Network mada 2017 Launched two new payment services, mada atheer, mada naqd 2018 Launched mada e-Commerce service and Apple Pay 2019 Launched mada pay 2021 Launched Soft Point of Sale 2021 Developed mada e-Commerce features (Preauthorization, Card on File) 2022 Accepted Discover Diner Club Transactions in Saudi Arabia 2023 Launched mada Transit 2023 Won the “Best Payment Experience” Award at Seamless Awards for the Middle East
