Al-Rajhi Bank launches a mobile point of sale App

The first in-app purchase transaction in the kingdom has been made.

Al-Rajhi Bank launched the application of Soft POS on mobile phones as part of its technical and digital leadership solutions in order to achieve the goal of being the "Bank of the Future." The first in-app purchase transaction was implemented in the Kingdom on Sunday April 4, 2021.

The new and innovative application provides a new and fast electronic payment mechanism that provides POS customers from all establishments to convert their phones to a means of accepting payment as an alternative to POS devices, which will save them effort, cost and maintenance.

This step comes from the bank as one of the first service providers in the region after being licensed by "Saudi Payments" as one of the financial and digital inclusion enablers targeted by the Kingdom's Vision 2030 and is considered one of the steps to develop the financial sector in the Kingdom, in addition to being in line with the objectives of the Central Bank of Saudi Arabia aimed at encouraging Innovative digital initiatives and reduced reliance on cash.

The bank appreciated the support of the success partners, which are "Saudi Payments" through "Mada", which adopts enabling innovative initiatives to develop the payment environment in the Kingdom, and the “Momkn” Payments Company, a provider of digital points of sale service.

It is noteworthy that Al-Rajhi Bank has the largest network of points of sale in the Kingdom and its services in this field are distinguished by providing more comfortable and safer options for merchants and shoppers, as the service is the fastest and most supportive of many cards.