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[QUOTE="Munyaradzi Mafaro, post: 58766, member: 636"]
Visa deployed its Acceptance Platform on Saudi Arabian cloud infrastructure for the first time globally. The digital payments company complied with Saudi Central Bank requirements through this local hosting arrangement. CyberSource will enable Saudi businesses to process transactions with enhanced speed and security via a single integration system. This development supports Saudi Vision 2030's objectives for establishing a competitive digital economy.

The platform supports multiple payment methods, including authorization and capture processes, stored card information, and subscription billing for Mada cards. Merchants and payment providers can activate digital wallet recurring transactions to meet the growing demands of their customers. Saudi Arabia currently processes 79 percent of transactions without cash, positioning the kingdom for further digital growth. The Visa system serves over 450,000 merchants monthly across 160 nations through connections with more than 450 payment service providers and 100 software vendors using 50 currencies.
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