Mohamed Yousuf Naghi Motors unveils Hyundai’s IONIQ hybrid

The new IONIQ is fitted with a 1.6 liter engine that produces 105 HP, while its electric motor generates 88 kilowatts equivalent to 120 HP, with maximum torque of 295 n/m.
Updated 01 January 2018
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Mohamed Yousuf Naghi Motors unveils Hyundai’s IONIQ hybrid

Mohamed Yousuf Naghi Motors Company (MYNM), Hyundai dealer in the Western region of Saudi Arabia, unveiled the first hybrid of Hyundai model “IONIQ” at the Saudi International Motor Show in Jeddah.
The show’s visitors had the opportunity to look at the first sophisticated hybrid electric smart car by Hyundai, which aims at contributing to a cleaner environment and reduce energy consumption. By introducing this new eco-friendly car, Hyundai stepped forward in its endeavor toward using alternative energy. The new hybrid IONIQ will be offered in three different variants.
Khalid Alharthy, national marketing operations and PR manager at MYNM-Hyundai, said at the launch of “IONIQ” that it is time to move forward in the automotive industry, and the IONIQ from Hyundai is the first step toward future intelligent driving. He said that while the company keeps up with modern development in automotive production on one hand, it meets the aspirations and requirements of the new generation of customers on the other hand.
The new IONIQ benefits also from three “clean” driving systems: The hybrid propulsion (an internal combustion engine with an electric motor), full electric propulsion and rechargeable hybrid engine (plugin hybrid), which will be available soon. With the IONIQ, MYNM-Hyundai offers its customers a variety of options including fuel-economy and eco-friendly cars.
The new IONIQ is fitted with a 1.6 liter engine that produces 105 HP, while its electric motor generates 88 kilowatts equivalent to 120 HP, with maximum torque of 295 n/m. The engine is fed by lithium-ion battery of 28 kWh that can drive up to 280 km in normal driving conditions, and more than 200 km in various driving conditions, at a maximum speed of 165 km/h. The Hyundai IONIQ electrical car accelerates from zero to 100 km/h, in sports driving mode, in less than 10 seconds.


Visa, mada launch ‘mada Pay’ app

Updated 16 July 2018
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Visa, mada launch ‘mada Pay’ app

Visa, a world leader in digital payments, announced Sunday that it has partnered with mada, the national payment scheme, to bring Saudi consumers mada Pay, the first mobile payment solution that supports contactless (NFC) transactions to launch in the Kingdom.
mada Pay is an Android-based mobile application that enables cardholders to make fast, easy and secure contactless mobile payments at NFC-enabled merchants throughout Saudi and abroad with Saudi-issued Visa cards (credit and prepaid). Visa and mada co-badged (debit and prepaid) cards can also be used with mada Pay.
The mada Pay app features built-in security technology enabled by Visa Token Service and mada Tokenization Platform that replaces card data, including the 16-digit card number, with a “token” (a random number), to protect cardholders’ account information. During the transaction, the token is selected (either a mada or Visa token) and submitted into the payment process rather than the actual card information, depending on the type of card and geographical location where the transaction occurs. This means that users of digital applications such as mada Pay are able to pay, safe in the knowledge that they are protected by multiple layers of security.
Ali Bailoun, Visa’s general manager for Saudi Arabia, said: “We’re delighted to be partnering with mada to launch mada Pay, the first digital application of its kind in Saudi Arabia, a secure and innovative cashless solution made possible by our joint secure tokenization technologies. This initiative reflects our commitment to supporting Saudi Arabia’s Vision 2030 by leveraging our global capabilities and solutions to help build a secure, seamless and modern payments infrastructure that will facilitate the shift toward cashless commerce.”
Ziad Al-Yousef, general manager of the General Department of Payments Systems at the Saudi Arabian Monetary Authority (SAMA), said: “Offering consumers a digital application is an important step forward in supporting the government’s efforts to achieve Vision 2030. We are pleased to be partnering with Visa and other international players to deliver such a safe, convenient and interoperable new way to pay.”
Earlier this year, Visa released the results of an independent study conducted by Roubini ThoughtLab and commissioned by Visa, “Cashless Cities: Realizing the Benefits of Digital Payments,” which examined the economic impact of increasing the use of digital payments in major cities around the world.
“Our Cashless Cities study shows that increased usage of digital payments, such as cards and mobile payments, could yield a net benefit of up to SR25.12 billion annually to consumers, businesses, and government in Riyadh. Today’s partnership is a great example of how Visa, the leading digital payments company globally, is well positioned to work with our partners in government — as well as across banks and merchants, in unlocking the financial benefits of moving toward digital payments,” added Bailoun.