Saudi Payments, under the supervision of the Saudi Central Bank (SAMA) announced the launch of Saudi Arabia’s instant payments system ‘sarie’ in cooperation with IBM and Mastercard. This collaboration marks a key milestone for payments innovation in the region and is aligned with Saudi Payments’ aim to improve the Kingdom’s financial ecosystem.

With the cloud native architecture ensuring scalability and agility, the e-commerce platform will also integrate the company’s existing applications like ERP, CRM, inventory management system and others. The platform will also enable Joyalukkas to automate their order and inventory management across their own site as well as on multiple online marketplaces where the company’s merchandise is sold.