Mada
مدى
Definition
Mada is Saudi Arabia's national debit card payment network, connecting all Saudi banks and enabling point-of-sale and e-commerce transactions. Managed by Saudi Payments (a SAMA subsidiary), Mada cards are issued by all Saudi banks and are accepted at over 1 million terminals nationwide.
Why Mada Matters in Saudi Arabia
Mada is a critical component of Saudi Arabia's fiscal framework managed by ZATCA. With the introduction of 15% VAT in 2020, enhanced e-invoicing requirements (Fatoorah), and ongoing Zakat compliance, businesses must understand these financial concepts to remain compliant. Proper knowledge of this term helps optimize tax planning and avoid penalties that can significantly impact your bottom line.
Mada Key Facts
- National debit card network connecting all Saudi banks
- Accepted at 1M+ POS terminals
- Supports contactless (NFC) payments
- Used for e-commerce and online payments
- Processed SAR 1.2+ trillion in transactions annually
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