Saudi Arabia and Qatar Launch Mutual Acceptance for mada and HIMYAN Payment Cards

The Saudi Central Bank and Qatar Central Bank have begun integrating their respective national payment schemes, mada and HIMYAN, to enable seamless cross-border transactions. For fintech professionals, this interoperability marks a significant shift toward regional financial sovereignty, reducing reliance on global card networks for intra-GCC commerce while lowering costs for consumers and merchants alike.

What was announced

The Saudi Central Bank (SAMA) and the Qatar Central Bank have initiated a phased rollout for the mutual acceptance of their respective national payment cards. Under this arrangement, Saudi Arabia’s "mada" cards will be accepted in Qatar, while Qatar’s "HIMYAN" cards will be functional within the Kingdom of Saudi Arabia. This integration is facilitated through the Gulf Payment Network (GCC-NET), a regional infrastructure designed to connect the payment systems of the Gulf Cooperation Council member states.

The rollout is intended to be gradual, ensuring that the technical infrastructure for both Point of Sale (POS) terminals and Automated Teller Machines (ATM) is fully compatible across the two borders. By leveraging GCC-NET, citizens and residents of both nations can perform cash withdrawals and retail purchases without the friction typically associated with international currency conversion or third-party processing fees. This move is a direct effort to enhance the quality of financial services and lower transaction costs for travelers and businesses operating between Saudi Arabia and Qatar. It aligns with broader strategic objectives for financial integration within the GCC, aiming to create a more unified and efficient payment landscape that supports regional economic stability and the development of shared payment infrastructure.

"The Gulf Payment Network (GCC-NET) enables citizens and residents of GCC countries to withdraw cash from ATMs and make payments at POS terminals using GCC network debit cards. This helps make payments easier, more efficient, and less costly for customers, while improving the quality of services provided across the GCC."

The Saudi Central Bank (SAMA)

The companies involved

The Saudi Central Bank, commonly known as SAMA, serves as the central bank of the Kingdom of Saudi Arabia. It is responsible for maintaining monetary and financial stability, managing foreign exchange reserves, and overseeing the country’s banking and insurance sectors. SAMA has been a pivotal driver in the Kingdom’s modernization efforts, particularly in developing the national payment infrastructure through the mada scheme, which connects all ATMs and POS terminals throughout the country. The Qatar Central Bank (QCB) performs a parallel role in the State of Qatar, acting as the primary regulator for the financial sector and the issuer of the Qatari Riyal. QCB has recently focused on domestic innovation through the launch of HIMYAN, Qatar’s first national prepaid card brand, designed to provide a secure and local alternative for electronic payments. Both institutions are key members of the Gulf Cooperation Council (GCC) and participate in the Gulf Payment Network (GCC-NET), a collaborative framework that has historically linked ATM networks across the region and is now expanding into POS interoperability to foster deeper economic ties.

What FF News has reported before

FF News has closely monitored the evolving financial landscape in the Middle East, particularly the strengthening ties between these two markets. We recently covered the Saudi-Qatar Cross-Border Payment Deal and $329M barq Funding Headline Money20/20 Riyadh, which signaled a deepening of fintech cooperation. In Saudi Arabia, we reported on the Visa Acceptance Platform Certified for SAMA’s New E-commerce Interface in Saudi Arabia. Meanwhile, in Qatar, our coverage includes KARTY Secures Visa FinTech Innovation Award for Advancing Digital Payments in Qatar and the Qatar Central Bank Issues First Insurance Price Comparison Platform License to Policybazaar, highlighting the regulator's role in fostering a diverse financial services ecosystem.

What this means

This integration is a clear challenge to the dominance of global card networks within the GCC. By prioritizing domestic schemes like mada and HIMYAN for regional transactions, SAMA and QCB are effectively keeping transaction data and processing fees within the local ecosystem. The move puts pressure on international providers to justify their value proposition in a region that is increasingly capable of managing its own rails. Furthermore, this sets a precedent for other GCC nations to accelerate their own integration efforts. The success of this rollout will likely determine how quickly the region can achieve a truly borderless digital payment zone, potentially reshaping retail and tourism dynamics across the peninsula.