Mastercard, a leading global technology company in the payments industry, has launched world-class technology infrastructure in Saudi Arabia.
This pioneering technology will enable the processing of eCommerce transactions locally, providing a seamless and secure payments experience for both Mastercard partners and consumers while fueling the Kingdom’s digital commerce.
As part of its efforts to drive the goals of digital transformation, accelerate economic diversification and empower innovation in Saudi Arabia, and under the patronage of The Saudi Central Bank (SAMA), the local establishment of Mastercard Gateway expands the technology company’s footprint in the region.
This also highlights Mastercard’s commitment to contributing its expertise as a trusted technology partner and enabler of Saudi Arabia’s digital economy and future goals.
Mastercard Gateway is a single touchpoint that powers payment and digital acceptance solutions across new and existing markets and channels, locally and globally. Merchants benefit from support for over 30 different payment methods and risk management solutions including fraud detection and prevention, while customers enjoy advanced, secure protection from cybercrime.
This technology infrastructure asset bundled with tailor-made applications and services will allow the processing of local ecommerce transactions efficiently and securely.
Adam Jones Division President, West Arabia – Mastercard
“As a company that is powering economies and empowering people, we understand the importance of a world-class payment infrastructure. We are proud of our long legacy in the Kingdom and the unveiling of our secure technology infrastructure in the Kingdom is a landmark moment that reinforces our commitment to digitization and diversification. We will continue to work closely with local leadership to collaboratively fuel the payments ecosystem in Saudi Arabia as we empower its people and businesses.”
The initiative falls in line with Saudi Vision 2030, and has been introduced to build stronger payment platforms and ecosystem, drive digital transformation, and enhance the national economy through locally relevant technology.
Mastercard has witnessed significant growth in digital payments acceptance in Saudi Arabia by providing secure payment choices for consumers and businesses. The rapid evolution in payments is strengthening the financial ecosystem with innovative new solutions in fintech, cybersecurity, retail, and eCommerce.
Mastercard Gateway technology paired with the global network of more than 200 acquirers give over 500 thousand merchants access to ongoing innovation, and more than 110 million acceptance locations. In 2023, Mastercard Gateway processed more than 950 million payments in Saudi Arabia, across all payment methods, supporting the growth of digital commerce in the market.
To succeed in today’s interconnected and rapidly evolving world, embracing digitization becomes vital for communities. With investments in resilient financial systems infrastructure, diverse fintech solutions, local and regional partnerships, and dedication to building financial inclusion, Mastercard is revolutionizing digital payments in Saudi Arabia.
