During Seamless Saudi Arabia 2024, Mastercard has revealed a state-of-the-art technology infrastructure in Saudi Arabia designed to facilitate local ecommerce transactions. This initiative aims to deliver a smooth and secure payment experience for both Mastercard partners and consumers, thereby accelerating the Kingdom’s digital commerce landscape.
In alignment with its mission to foster digital transformation, promote economic diversification, and stimulate innovation in Saudi Arabia, Mastercard has established the local Mastercard Gateway under the auspices of the Saudi Central Bank (SAMA). This move expands Mastercard’s presence in the region and reinforces its role as a trusted technology partner in advancing Saudi Arabia’s digital economy and future ambitions.
Unified payment solutions
Mastercard Gateway serves as a unified platform that enables payment and digital acceptance solutions across various markets and channels, both locally and globally. Merchants can take advantage of support for over 30 different payment methods and robust risk management tools, including fraud detection and prevention. Meanwhile, customers benefit from enhanced security measures against cyber threats.
Efficient transaction processing
This cutting-edge infrastructure, along with customized applications and services, will facilitate the efficient and secure processing of local ecommerce transactions.
Commitment to digitization
“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,” said Adam Jones, division president, West Arabia at Mastercard.
Supporting Saudi Vision 2030
Moreover, in support of Saudi Vision 2030, this project aims to strengthen payment platforms and ecosystems, drive digital transformation, and fortify the national economy through locally relevant technology.
Growth in digital payment acceptance
Mastercard’s long-term dedication to the Kingdom has resulted in significant growth in digital payment acceptance, offering secure payment options for consumers and businesses alike. Furthermore, this rapid advancement in payment technologies is enhancing the financial ecosystem by introducing innovative solutions across fintech, cybersecurity, retail, and ecommerce sectors.
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Access to innovation
The Mastercard Gateway technology, combined with a global network of over 200 acquirers, provides more than 500,000 merchants with access to continuous innovation and over 110 million acceptance locations. Additionally, in 2023, the Mastercard Gateway processed over 950 million payments in Saudi Arabia across all payment methods, supporting the expansion of digital commerce in the region.
Embracing digitization
As commerce continues to evolve, embracing digitization is vital for communities to thrive in today’s interconnected and rapidly changing environment. Through investments in resilient financial systems, diverse fintech solutions, local and regional partnerships, and a commitment to enhancing financial inclusion, Mastercard is further actively shaping the future of digital payments in Saudi Arabia.
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