HPS introduces QR-based National Payment System – ZAWYA

HPS introduces QR-based National Payment System – ZAWYA

The step is based on the joint partnership between the two parties, and it aims to support the continuous development of the electronic payment environment in the Kingdom.. The QR Code enables a merchant to present a request for payment to a consumer, who can then verify and make a payment, or reject the request.. Multiple payment types are supported, information can both be fixed in a static QR code and used for multiple transactions, or a dynamic QR Code can be used for individual transactions.. Saudi Payments was established as a wholly owned subsidiary of SAMA with the mandate to continue the legacy of SAMA by continuing to develop secure, interoperable national payment infrastructure, serving banks and fintechs equally, and providing the required standardization to ensure all providers have a level playing field. The contents of the press release was provided from an external third party provider.. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release..