Community Worldwide (Community), the main enabler of digital commerce throughout the Center East and Africa (MEA) area, has introduced that it has obtained a Main Cost Establishment (Main PI) licence from the Saudi Central Financial institution (SAMA) that can strengthen the acquirer’s foothold within the Kingdom.
The procurement of the licence is a milestone that aligns with Community’s strategic targets that embody increasing capabilities to supply a complete suite of cost acceptance options inside the KSA market which is the biggest market within the area. The licence additionally allows Community to empower the growth of their regional shoppers by providing an intensive vary of cost options on this key enterprise hub.
Community is positioned favourably to foster a dynamic and inclusive funds ecosystem in Saudi Arabia by constructing long-term collaborative partnerships with retailers, companies together with SMEs, cost networks, banks and Fintechs throughout various sectors. Aligning with the Saudi Imaginative and prescient 2030 precedence on journey, tourism, and leisure, Community sees the immense potential in enabling new cost pathways because the nation embarks on a transformative journey to turn out to be a significant world hub for superior applied sciences and appeal to expertise and enterprise by creating the fitting atmosphere for funding with a differentiated way of life. Tourism and residential mega improvement tasks similar to The Crimson Sea and Amaala in addition to futuristic city developments like NEOM are promising arenas for deployment of revolutionary cost options by Community.
Abdulaziz Al-Dahmash, Managing Director – KSA, Community Worldwide, stated: “We specific our deep gratitude to the Saudi Central Financial institution (SAMA) for his or her belief in offering Community Worldwide the chance to considerably contribute in the direction of increasing the funds panorama within the Kingdom. Community’s strong buying options are designed to satisfy the distinctive wants of each enterprise, from high-volume retailers to particular person entrepreneurs and SMEs. Authorities assist additional helps to foster an atmosphere that’s conducive to innovation within the monetary providers sector. We’re proud to acquire this licence from the Saudi Central Financial institution (SAMA) and excited to supply retailers and companies with the options and experience they should thrive within the evolving digital panorama of Saudi Arabia.”
Community is leveraging its huge experience to contribute to accelerating the Kingdom’s digital transformation initiatives by way of a number of formidable targets by 2030 through boosting innovation, lowering money reliance by growing digital transactions, and contributing to financial diversification and creating native expertise.
Constructing on its vital regional expertise, Community Worldwide will foster strategic monetary inclusion targets inside Saudi Arabia by offering safe, strong cost options to retailers and companies of all sizes.