What is Mobily Pay
We’ve all benefited from smartphone technology, but now it’s time to make life even easier with Mobily Pay. With only one tap, you can complete financial operations including money transfers, purchases, and bill payments with Mobily Pay, the newest digital wallet from Mobily, a new payment service authorized by the Saudi Central bank (SAMA).
These are the companies Sama has given licenses to Operate in Saudi Arabia.
- Rasanah Technologies LLC (Financial Information Aggregation)
- Lendo: Debt – CrowdFunding Platform)
- SURE (Digital Payments)
- Foodics (Digital Payments)
- Sulfah (Consumable Micro-lending)
- Raqamyah Platform (Debt- CrowdFunding Platform)
- Maalem (Debt- CrowdFunding Platform)
- Skyband (Digital Payments)
- Alinma Pay (Digital Payments)
- Zain Payments (Limited) (Consumable Micro-lending)
- Forus (Debt- CrowdFunding Platform)
- Digital Cash International Company ( Digital Payments )
- AZM Fintech CO ( Digital Payments )
- Money Loop (Digital Savings association)
- Noon Hakbah Co for Information Technology (Digital Savings association)
- Savings Circles
- Business research storming company (Digital savings Solutions)
- Nayifat Finance Company (Debt – CrowdFunding Platform)
- Platform Company Ltd Tameed Financing (Debt – CrowdFunding Platform)
- Manafa capital (Debt – CrowdFunding Platform)
- Funding Souq Company (Debt – CrowdFunding Platform)
- Sahlah Company For Electronic Marketing (Debt – CrowdFunding Platform)
The license of Mobily Pay by SAMA is in line with the telecom behemoth’s plan to diversify the industries in which its services and business operations are offered, with fintech serving as a fundamental tenet of the plan.
International Money Transfers here comes MoneyGram’s
In order to introduce MoneyGram’s international money transfer capabilities on Mobily Pay, MoneyGram International and Mobily Pay, a mobile wallet powered by Saudi Arabia’s Mobily, a telecommunications and digital service provider, announced their agreement. Through this partnership, customers in Saudi Arabia will be able to send money internationally almost instantly using the Mobily Pay mobile wallet.
What characteristics does it have?
The new Mobily Pay features are intended to simplify and improve the convenience of your life. You can now make purchases online using a digital Visa card. You can transfer money between wallets and to anyone using this tool. Additionally, you can send local (SARIE-IPS) and international (to an account, cash pickup, or wallet) payments as well as SADAD and Mobily payments. Additionally, you can plan payments and send gifts. Therefore, Mobily Pay makes it simple and convenient to pay regular bills or send money to friends and relatives who live abroad. Try it now!
What is its use?
Download the Mobily Pay app from Google Play or App Store first before using it. Then register for an account and enter your debit or credit card details. I’m done now! You are now prepared to use Mobily Pay.
Digital Mobily Pay Cards
Three digital payment cards are available through Mobily Pay: the classic card, the platinum card, and the signature card. The traditional credit card has no annual fees and offers 0.5% cash back. The platinum card has an annual fee of SAR 100 plus 15% VAT and offers 0.7% cash back on purchases. The signature card has an annual charge of SAR 400 plus 15% VAT and offers 1% cash back on purchases. You can select the card that best fits your needs and way of life from these three possibilities.
Mobily, a 2005 incorporation, runs one of the largest wireless networks in Saudi Arabia by coverage as well as one of the biggest data center systems globally.
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