RIYADH: Saudi telecom operator Etihad Etisalat Co., better known as Mobily, is joining the fintech revolution.
Mobily Pay, a fully owned unit of telecom firm Mobily, received a license from the central bank to conduct payments and e-wallets transactions, the company said in a filing.
Mobily and Bank Albilad formed partnership for Mobily Pay
Mobily said its mobile payment system will allow users to get access to digital financial services, such as money transfers within Saudi Arabia and abroad, bill payments, and bank card issuance.
In keeping with Vision 2030, these initiatives have contributed to the Saudi economy’s growth and development, said Salman Al-Badran, CEO of Mobily.
Incorporated in 2005, Mobily operates one of the largest wireless networks by coverage in Saudi Arabia and one of the largest data center systems worldwide.
