Mastercard Launches Local Technology Infrastructure For Saudi Arabia's Digital Payments

In a significant move to support the acceleration of Saudi Arabia's digital commerce, Mastercard has introduced a cutting-edge technology infrastructure designed for the local processing of e-commerce transactions.

This initiative is aimed at providing both Mastercard partners and consumers with a smooth and secure payment experience, highlighting the company's dedication to fostering the Kingdom's digital transformation and economic diversification. Mastercard's commitment to being a reliable technology partner and enabler of Saudi Arabia's digital economy and future objectives is evident in this development.

Under the patronage of The Saudi Central Bank (SAMA), the establishment of Mastercard Gateway marks an expansion of the technology company's presence in the region. This single touchpoint facilitates payment and digital acceptance solutions across various markets and channels, both locally and globally.

It supports over 30 different payment methods and integrates risk management solutions, including fraud detection and prevention. This ensures customers enjoy heightened protection against cybercrime, while merchants benefit from the efficient and secure processing of local e-commerce transactions.

Through its innovative infrastructure, bundled with custom-made applications and services, Mastercard is playing a pivotal role in the evolution of the payment landscape in Saudi Arabia. "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," stated Adam Jones, Division President, West Arabia at Mastercard.

Aligned with Saudi Vision 2030, this project seeks to strengthen payment platforms and the ecosystem, further digital transformation, and boost the national economy with technology that resonates locally. Mastercard's long-standing commitment to the Kingdom has significantly contributed to the growth of digital payments acceptance, providing secure and diverse payment options for consumers and businesses alike. This has fostered innovation in fintech, cybersecurity, retail, and e-commerce, thereby enhancing the financial ecosystem.

In 2023, Mastercard Gateway processed over 950 million payments in Saudi Arabia, across various payment methods, underpinning the expansion of digital commerce in the market. With access to a global network of more than 200 acquirers, over 500 thousand merchants benefit from continual innovation and more than 110 million acceptance locations worldwide.

This technology, coupled with regional and local partnerships, is crucial for communities to thrive in today's interconnected and fast-paced world. Mastercard's investment in resilient financial system infrastructure, diverse fintech solutions, and commitment to financial inclusion is shaping the future of digital payments in Saudi Arabia.

Mastercard's endeavor underscores the importance of embracing digitization for the economic and social prosperity of communities. By investing in a robust and secure payments ecosystem, the company is not only enhancing the digital commerce landscape in Saudi Arabia but also contributing to the broader goals of financial inclusion and innovation. This initiative exemplifies Mastercard's role in driving forward the Kingdom's digital ambitions, as it continues to provide solutions that meet the evolving needs of businesses and consumers in the digital era.