The Saudi Central Bank (SAMA) has officially licensed Darb Pay for Information Technology to provide e-wallet payment solutions within the Kingdom. This latest regulatory approval marks a significant step in the continued expansion of Saudi Arabia’s vibrant fintech landscape, bringing the total number of licensed payment service companies to 28.
SAMA’s Vision for a Digital Economy
The decision to license Darb Pay aligns with SAMA’s broader strategy to bolster the national payments sector and support the goals of the Financial Sector Development Program under Saudi Vision 2030. By licensing new players, the central bank aims to enhance the efficiency of financial transactions and foster innovative solutions that drive greater financial inclusion across the country.
This move underscores SAMA’s commitment to creating a competitive and technologically advanced financial ecosystem. The central bank continues to encourage innovation while maintaining a secure and stable financial environment, emphasizing the importance for consumers and businesses to exclusively engage with financial institutions that are officially authorized and licensed.
A Growing Fintech Hub
The addition of Darb Pay as the 28th licensed payment provider highlights the increasing maturity and competitiveness of the Saudi fintech market. For founders and investors, this signals a robust regulatory framework that is receptive to new technologies and business models. The growing number of licensed entities fosters a dynamic environment where innovation in digital wallets, payment gateways, and other financial services can thrive, ultimately benefiting both consumers and businesses throughout the Kingdom.
About Darb Pay
Darb Pay for Information Technology is a Saudi-based financial technology company focused on delivering modern and secure digital payment solutions. Specializing in e-wallet services, the company aims to simplify financial transactions for individuals and businesses, contributing to the Kingdom’s ongoing digital transformation.
Source: SAMA
