Adam Jones, Executive Vice President and Division President for West Arabia at Mastercard, has outlined how the global payments giant is driving innovation in Saudi Arabia’s financial services landscape while supporting the Kingdom’s ambitious Vision 2030 goals. Saudi Arabia’s payment sector is undergoing a transformation with accelerated adoption of digital payments and rising demand for secure, convenient transactions. Mastercard is at the forefront of this change, fostering a thriving digital commerce ecosystem and supporting the Kingdom’s economic diversification and financial inclusion objectives.
Central to Mastercard’s offering is the Mastercard Gateway, a single touchpoint that facilitates digital payment acceptance across various markets and channels through hosted payment solutions, tokenization, authentication, and advanced fraud detection. The gateway provides access to over 110 million acceptance locations, pushing continuous innovation and empowering local businesses to thrive in a digital-first economy. In 2023 alone, Mastercard Gateway processed 950 million payments across all payment methods in Saudi Arabia.
“We are proud to invest in Saudi Arabia by bringing our on-soil Mastercard Gateway infrastructure to the Kingdom under the patronage of the Saudi Central Bank, SAMA,” said Adam Jones. “This is part of our ongoing commitment to delivering seamless, secure, and innovative payment solutions that fuel the growth of Saudi Arabia’s digital economy.” Mastercard’s infrastructure enables local processing of e-commerce transactions, reduces latency, enhances transaction security, and supports the Saudi economy, positioning the company to respond to evolving local consumer needs.
Localization is a key focus for Mastercard. As a trusted global technology partner, Mastercard collaborates with a wide range of stakeholders to incubate, develop, and scale digital payment solutions tailored to local needs. The company has partnered with Saudi fintech, tiqmo, to introduce prepaid cards through its mobile app, leveraging Mastercard Cross-Border Services and tokenization.
In supporting local innovation and customer needs, Mastercard is also dedicated to assisting Saudi Arabia’s small and medium-sized enterprises (SMEs), which are vital for innovation, employment, and GDP growth. Through tailored solutions such as cyber assessments, digital training, mentoring platforms, and innovation initiatives, Mastercard helps SMEs thrive in an increasingly digital world. The company has introduced The Entrepreneur’s Odyssey, a free online educational resource for small businesses, and partnered with fintech company SiFi to empower small businesses with innovative offerings.
In collaboration with Saudi Awwal Bank (SAB), Mastercard has introduced an SME Business credit card in the Kingdom and teamed up with another fintech, barq, to provide businesses with industry-leading payment acceptance solutions through Mastercard Gateway. Looking ahead, Mastercard continues to focus on local partnerships, innovation, and digital technologies. The company aims to unlock growth opportunities across various industries, adding value to the national economy and supporting the ambitions of Saudi Vision 2030.
Mastercard’s strategic initiatives and investments in Saudi Arabia’s payment sector highlight its commitment to driving digital transformation and economic growth. With a clear focus on innovation, localization, and customer-centric solutions, Mastercard is well-positioned to support the Kingdom’s journey towards a prosperous and diversified economy.
