SAMA has begun designing a Sandbox regulatory environment to understand and assess the impact of new technologies in the financial services market in the Kingdom and to help transform it into an intelligent financial center, allowing local and international companies wishing to test new digital solutions to enter the environment to be launched in the Kingdom in the future. This step aims at achieving a number of strategic objectives of linking the sandbox environment with The Kingdom's vision 2030 that aims at moving into a cashless society and promoting the principal of financial inclusion. The sandbox aims to attract financial institutions and local and international financial technology companies specialized in financial technology, which are looking to utilize existing and new technologies to provide innovative financial services to Saudi markets such as local and international start-ups, financial technology companies, financial services companies and professional services companies that collaborate with these companies. SAMA clarified that services and products, which are being tested currently, includes E-wallet services, P2P transfers and purchases through QR Codes as well as direct international transfers through financial technology companies in addition to the aggregators  of Point of sale (POS) devices, SADAD bills, SADAD account and mada online. SAMA pointed out that the permission to work in the sandbox environment has been granted to 11 local and international banks to open and update accounts without the need to visit the branches as well as the permission to 7 companies to provide various services in the field of digital payments.