American Express offers SADAD to its Cardmembers

Published April 30th, 2007 - 07:13 GMT

Amex (Saudi Arabia) Limited announced today that it has adopted the SADAD payment system, allowing payments of credit cards and other bills electronically with any participating bank through ATMs, phone or Internet banking throughout Saudi Arabia

The new initiative is part of American Express’s drive to enhance its customer services, which includes developing innovative Card features and  benefits and diversifying payment channels to provide easier access to Cardmembers around the clock all over the Kingdom.

Fahad Al-Guthami, Chief Operating Officer of Amex (Saudi Arabia) Limited, said that the initiative will strengthen American Express’s position as a leading credit card brand and help it further develop its products and services. “American Express is keen on being part of the technology boom in the Kingdom which speedily moves towards deploying the electronic systems including e-payments, in an efficient, secure and fast manner”, added Al-Guthami.

With the launch of the new service, American Express Cardmembers will be able to use SADAD option that appears on ATM monitors, in phone banking and banks’ websites, without the need to physically go to the banks for settling their payments.

“This step comes when the Saudi community experiences a remarkable advancement in people willingness to be more reliant on using technological and electronic solutions to get their services. This urges American Express to develop its services and operations to address this growing trend”, stressed Al-Guthami.

Abdul Maliq Al-Sheikh, SADAD’s CEO, said, “Joining of American Express to SADAD reflects the increasing importance of this system as a reliable payment mechanism in the Kingdom. SADAD has been initiated upon a vision to establish an electronic platform to streamline the bill payment process in the Kingdom, and to act as an intermediary between billers and banks. The intermediary will be the core to a trusted and secure payment brand in the Kingdom. We are working now on attracting more billers from different sectors and industries to the system”.

SADAD system employs the top-notch technologies worldwide. It is secured against the internal and external viruses and online fraud. It also applies systems authorized by SAMA, which provide the highest standards of electronic security on using the system from any spot all over the Kingdom.

 

About American Express
American Express Company is a diversified worldwide travel, financial and network Services Company founded in 1850. It is a world leader in charge and credit cards, Travellers Cheques, travel, financial planning, business services, insurance and international banking.

Amex (Saudi Arabia) Limited was established in 1999 as a joint venture company equally owned by Amex (Middle East) E.C. and the Saudi Investment Bank. It owns and operates the American Express Card and Merchant business in Saudi Arabia. The Saudi Investment Bank is a Saudi Arabian joint stock company established in 1976. Amex (Middle East) E.C. is a Bahrain joint venture company equally owned by Mawarid Holding Company and the American Express Company.

American Express Cards are accepted at millions of locations in more than 200 countries and territories worldwide.


 


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