Mada is the new identity of SPAN, that represents the innovative generation of electronic payments in Saudi Arabia and is intended to boost ATMSs and POS growth with unprecedented dimensions of flexibility, speed, security, and acceptance.
MADA Debit Cards
Though a network of most advanced global technical payment systems, mada connects all automated teller machines (ATMs) and point-of-sale (POS) terminals offered by local banks throughout the country to a central payment switch that in turn re-routes the financial transactions between a merchant’s bank and the card issuer bank. The system also permits regional and global acceptance through connecting with other payment systems such as GCC Net, VISA, MasterCard, and American Express to provide mada cardholders with a wider acceptance locally and overseas.
Mada card is a debit card issued by local banks that allows a cardholder to access funds in their accounts. This accessibility can be in the form of cash withdrawals at ATMs or through payments for goods and services at Point of Sale (PoS) terminals in thousands of outlets in KSA.
Features of MADA:
- A seven-fold enhanced routing capacity in comparison to the previous generation.
- An unprecedented standard of enhanced transactions performance and speed.
- Widespread accessibility.
- Instant SMS notifications to cardholders on any cash withdrawals or POS transactions.
- Increased daily transaction purchase limit at PoS terminals from SAR 20,000 to SAR 60,000.
- Value-added services naqd service that gives cardholders the convenience of withdrawing cash with their purchase at the merchant outlet. Click here for more information on Purchase with Cash Back service.