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  2. SAMA, Google to launch Google Pay in Kingdom by 2025

SAMA, Google to launch Google Pay in Kingdom by 2025

GHADA.ISMAIL
Jan 15, 2025
Upon this agreement, Google Pay will enable users to conduct secure transactions in stores, through apps, and online

Riyadh – Sharikat Mubasher: The Saudi Central Bank (SAMA) announced signing an agreement with Google to launch Google Pay services in 2025 via the Kingdom’s national payment network, Mada.

According to an official statement by SAMA, this step aligns with its efforts to enhance Saudi Arabia’s digital payments ecosystem under Vision 2030. It reflects the bank’s commitment to building a robust infrastructure, reducing reliance on cash, and offering globally compliant payment solutions.

Upon this agreement, Google Pay will enable users to conduct secure transactions in stores, through apps, and online. The service will also help users to add and manage Mada cards and digital credit cards securely via the Google Wallet app.

 SAMA noted that Google Pay is part of broader initiatives to meet market demands and position Saudi Arabia as a leader in financial technology.

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QIA participates in ICEYE’s $1.2bn Series F round
Doha - Sharikat Mubasher: Qatar Investment Authority (QIA) participated in a $1.2 billion series F funding round for sovereign intelligence company ICEYE, at a valuation of over $12 billion.In a statement released yesterday, QIA revealed that the investment reflects its continued focus on backing high-growth, technology-enabled businesses that enhance national security and global resilience, including the future of space-based intelligence and defense technology.The funding will help ICEYE accelerate its global footprint efforts and expand its intelligence capabilities to meet growing demand from governments across Europe, the Middle East, and Asia.Rafal Modrzewski, Co-founder and CEO of ICEYE, said: "The quality of investors who have chosen to back us at this scale reflects a shared belief. Sovereign intelligence from space is entering a new era, and the window to build it is now. ICEYE has built the world's most advanced, proven capability to meet that demand. This funding enables us to accelerate the delivery of new capabilities to governments and customers faster than ever before."The Series F round comprised a $520 million primary placement and was led by General Atlantic. In addition to QIA, the round attracted interest from other global investors, including Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia, and TCV.
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