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Saudi Payments Launches Instant Payments System In Collaboration With IBM, Mastercard

Saudi Payments announced the launch of Saudi Arabia's instant payments system 'sarie' in cooperation with IBM (IBM) and Mastercard (MA). Sarie allows bank customers to send and receive money in real-time using a wider range of services and transfer options. It supports all Saudi banks across the Kingdom.

Saudi Payments selected IBM Global Business Services, the services and consultancy arm of IBM, to lead the project as the System Integrator partner and an end-to-end digital payments solutions provider.

IBM GBS designed the solution, built a technical platform and integrated Mastercard's instant payments platform into Saudi Payments' existing infrastructure while connecting it to the IT systems of locally operating banks.

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