# FIME selected by mada payment system to develop next-gen testing and validation scheme Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-02-01 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Streamlining mada's New Payment Certification Process Meta Description: mada has selected FIME to develop a state-of-the-art cloud-based platform to simplify the testing and certification process for member banks and payment URL: https://financedigest.com/fime-selected-by-mada-payment-system-to-develop-next-gen-testing-and-validation-schemehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd010218-6-1736843016556-compressed.jpg) ![Lionel Grosclaude FIME CEO](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/lionel-grosclaude-fime-ceo-1736843016486-compressed.jpg) Lionel Grosclaude FIME CEO _The online platform will streamline mada’s new product testing and [certification](https://www.financedigest.com/fime-india-achieves-emvco-contact-level-2-accreditation.html) process for member banks, and POI & card vendors_ [FIME](https://goo.gl/4cV1Kz), a partner of Alhamrani Universal in the Kingdom of Saudi Arabia (KSA), has been selected by mada, the domestic [payment](https://www.financedigest.com/accelya-takes-airlines-to-new-places-with-launch-of-new-payment-gateway.html) scheme, to develop a state-of-the-art, bespoke cloud-based testing platform and certification process. For member banks, and points of interaction (POI) and payment instrument vendors, the new secure portal will make the certification process quicker, more cost efficient and convenient. This will smooth the development and [launch of new payments products](https://www.financedigest.com/new-product-launches-to-put-the-marker-pens-market-in-a-good-stead.html "New Product Launches To Put The Marker Pens Market In A Good Stead"). As the project will fully [automate and streamline the testing](https://www.financedigest.com/test-automation-systems-for-powertrain-dynamometer-market-to-reach-worth-of-us-1-20-bn-by-2031-tmr-insights.html "Test Automation Systems for Powertrain Dynamometer Market to reach worth of US$ 1.20 Bn by 2031, TMR Insights") and certification process, the costs and resources required to manage the scheme will also be dramatically reduced for mada. The new self-service [platform will operate 24/7 and enable](https://www.financedigest.com/matchly-the-us-fintech-platform-that-enables-employees-to-access-their-401k-employer-match-raises-1-7m-in-pre-seed-round.html "Matchly, the US fintech platform that enables employees to access their 401(k) employer match, raises .7m in Pre-Seed Round") stakeholders to: - Log into a private, secure mada network. - [Create a certification project](https://www.financedigest.com/deployed-raises-4m-to-redefine-how-statements-of-work-are-created-and-projects-are-planned.html "Deployed raises M to redefine how Statements Of Work are created and projects are planned"). - Perform testing in-house on payment terminals and cards. - Submit test logs to the cloud. - Monitor validation progress in real-time. - Completely remove the need to send hardware for certification. “Our [current certification processes](https://www.financedigest.com/the-problem-with-current-anti-money-laundering-processes-a-lack-of-context.html "The problem with current Anti-Money Laundering processes: A lack of context") are complex, as a result they can be time and resource intensive for everyone involved,” comments Ziad Al Yousef, General Director of Payment Systems Department at the Saudi Arabian Monetary Authority (SAMA). “By automating our systems and deploying them online, we can streamline the whole process, reduce certification time and give member banks and vendors the accessible [service that they need to innovate](https://www.financedigest.com/accelerating-financial-services-innovation-with-the-promise-of-data-mesh.html "Accelerating financial services innovation with the promise of data mesh "). “All of this work ties into supporting the Saudi Vision 2030 goal of a [cashless society](https://www.financedigest.com/four-reasons-why-smes-in-developing-nations-should-embrace-a-cashless-society.html "Four reasons why SMEs in developing nations should embrace a cashless society"). FIME’s expertise in supporting [payment schemes made them stand out as the partner that could help us to realize this vision and deliver](https://www.financedigest.com/will-central-bank-digital-currencies-deliver-a-more-democratic-payment-industry.html "Will Central Bank Digital Currencies deliver a more democratic payment industry?") a truly world-class, testing and certification service.” “This is certification for the [digital](https://www.financedigest.com/constructive-digitization-to-let-the-remote-patient-monitoring-services-market-come-of-age.html "Constructive digitization to let the Remote Patient Monitoring Services Market come of age") age,” comments Lionel Grosclaude, CEO, FIME. “It is a hugely ambitious [project that’s leading](https://www.financedigest.com/arora-project-have-experienced-out-of-this-world-returns-with-their-lead-generation.html "Arora Project have experienced out-of-this-world returns with their lead generation") the way in our cloud-based strategy and will be the first system of its kind. Cloud-based certification [puts banks](https://www.financedigest.com/analysis-war-in-ukraine-puts-pressure-on-east-european-banks-to-prop-up-sinking-currencies.html "Analysis-War in Ukraine puts pressure on East European banks to prop up sinking currencies") in the driving seat and removes the logistical and administrative headache that schemes face when managing all of the testing themselves. We share mada’s laser-focus on efficiency and innovation. Its commitment to [improving members’](https://www.financedigest.com/bottlenecks-supply-problems-improving-at-abb-robotics-division-board-member.html "Bottlenecks, supply problems improving at ABB robotics division – board member") user experience is commendable, and we look forward to sharing updates throughout the project.” --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---