Saudi fintech startup barq has partnered with Mastercard to offer its customers enhanced payment solutions by using Mastercard’s global payment processing platform.
This platform – known as Mastercard Gateway – enables businesses to securely manage transactions, prevent fraud and support recurring payments.
The partnership helps barq expand its services, providing merchants and consumers across Saudi Arabia with greater convenience and security.
This collaboration aligns with Saudi Arabia’s Vision 2030, contributing to the digital transformation of financial services and addressing the growing demand for cross-border financial transactions.
Both companies aim to drive innovation in the Saudi fintech ecosystem and improve access to modern payment tools.
“This represents an exciting point in history – both for the Kingdom and the wider financial services industry,” said Ahmed Alenazi, executive and founder, barq. “At a time when Saudi businesses, citizens and residents are increasingly looking for ways to send money across the globe quickly and securely, we have partnered with Mastercard to deliver the modern offerings that consumers demand.”
“At Mastercard, we take pride in serving as a partner of choice to the Kingdom as it continues to make strides on its journey of transformation,” Maria Parpou, EVP Payment Gateway, Mastercard, also added. “We strive to play a key role in driving the growth and development of the Saudi fintech ecosystem, working closely with innovative companies such as barq.
“Together, we aim to redefine financial services, curating an expansive portfolio of world-class offerings that empower people and businesses to make payments as they please.”
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