IssuerSaudi Payments (subsidiary of SAMA - Saudi Central Bank)Visit issuer →
Payment Types
P2PP2BB2BInstant credit transfersAlias-based transfers (mobile, email, national ID)Quick transfers (up to SAR 2,500 without beneficiary activation)Salary paymentsBill payments
Key Features
Mobile number as identifier instead of IBAN
Recipient account verification before transfer
Quick transfer (no beneficiary activation needed for < SAR 2,500)
ISO 20022 messaging standard
Built by Saudi Payments with IBM and Mastercard
API-first architecture
Part of Saudi Vision 2030 financial sector development
All local banks connected
Fastest worldwide deployment across all banks at launch
Statistics
feeNot exceeding 1 SAR per transaction
cagr~50% (3-year CAGR)
settlement timeInstant (24/7)
transactions 2023430 million
transactions 2024593 million
quick transfer limitUp to SAR 2,500
instant transfer limitUp to SAR 20,000
transactions first year177 million (2021)
Profile
Networksarie
Full Namesarie (Instant Payment System)
Country🇸🇦 Saudi Arabia
CurrencySAR (Saudi Riyal)
RegionMiddle East
Launched2021-02
IssuerSaudi Payments (subsidiary of SAMA - Saudi Central Bank)