Mastercard Launches Local E-Commerce Payments in Saudi Arabia

Mastercard has showcased its cutting-edge technical infrastructure for processing e-commerce transactions locally, a crucial step toward supporting Saudi Arabia's digital revolution. This effort aims to improve the smooth, secure payment experience for Mastercard partners and customers in the Kingdom, therefore supporting the fast expansion of digital commerce in accordance with Saudi Vision 2030.

Mastercard Gateway, backed by the Saudi Central Bank (SAMA), will grow its local presence by providing payment and digital acceptance solutions, ensuring that businesses and customers have access to the most secure and efficient payment systems available. The platform supports over 30 different payment methods and has comprehensive fraud detection and prevention, providing additional security against cyber risks.

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Empowering the Digital Economy in Saudi Arabia

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Boosting Innovation in Saudi Arabia's Payment System

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About Mastercard (NYSE: MA)

Empowering the Digital Economy in Saudi Arabia

This launch represents a watershed moment in Saudi Arabia's efforts to modernize its financial ecosystem, fitting with the country's overarching aims of economic diversification and advancement. Mastercard's investment in local infrastructure will have a substantial influence on the development of the e-commerce, cybersecurity, and fintech industries by connecting merchants to a global network of over 200 acquirers and 110 million acceptance points.

Mastercard's local e-commerce processing capabilities not only assist merchants optimize payment processes but also enable Saudi enterprises to thrive by implementing secure, creative solutions. These activities are consistent with the Kingdom's objective of strengthening its digital payment infrastructure while guaranteeing financial inclusion for all segments of society.

Boosting Innovation in Saudi Arabia's Payment System

Mastercard's support of the Saudi Vision 2030 extends beyond digital infrastructure. Mastercard intends to promote the Kingdom's shift to a cashless economy by investing in local and regional relationships and implementing bespoke fintech solutions. With over 950 million payments completed domestically in 2023, the Mastercard Gateway is projected to play an important part in Saudi Arabia's digital payment future.

Saudi Arabia will stay at the forefront of global digital payment trends as long as its financial infrastructure is strengthened. As Saudi fintech experts, e-commerce enterprises, and payment service providers embrace these developments, Mastercard will continue to propel the Kingdom's digital payment ecosystem ahead.

About Mastercard (NYSE: MA)

Mastercard is a payment technology firm with a worldwide presence. Our purpose is to connect and fuel an inclusive digital economy that benefits everyone, everywhere by making transactions secure, simple, smart, and easy to use. Our ideas and solutions enable people, financial institutions, governments, and organizations to achieve their full potential by using secure data and networks, collaborations, and enthusiasm. Our decency quotient, or DQ, underpins our culture and all we do both within and outside of our organization. With links in over 210 countries and territories, we are creating a sustainable world that offers limitless opportunities to everyone.