Mastercard recently announced the launch of world-class technology infrastructure in Saudi Arabia. This infrastructure will boost the processing of e-commerce transactions locally, providing a seamless and secure payment experience for Mastercard partners and consumers and supporting acceleration of the Kingdom’s digital commerce.
Industry sources further added that as part of its efforts to empower digital transformation, drive economic diversification, and empower innovation in Saudi Arabia, and under the patronage of The Saudi Central Bank (SAMA), the local establishment of Mastercard Gateway broadens the technology company’s footprint in the region and underlines Mastercard’s commitment to contributing its expertise as a trusted technology partner and enabler of Saudi Arabia’s digital economy and future goals.
Mastercard Gateway is a single touchpoint that powers payment and digital acceptance solutions across new and existing markets and channels, locally and globally. Merchants benefit from support for 30+ different payment methods and risk management solutions such as fraud detection and prevention, while customers enjoy advanced, secure protection from cybercrime.
This innovative infrastructure asset bundled with tailor-made applications and services will enable the processing of local e-commerce transactions efficiently and securely.
“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.
Industry sources further added that through its long-term commitment to the Kingdom, Mastercard has seen extensive growth in digital payment acceptance in Saudi Arabia by providing secure payment choices for consumers and businesses. The rapid evolution in payments is bolstering the financial ecosystem by providing innovative new solutions in fintech, cybersecurity, retail, and e-commerce.
Industry sources further confirmed that in line with Saudi Vision 2030, the project has been launched to build stronger payment platforms and ecosystems, power digital transformation, and boost the national economy through locally relevant technology.
Industry sources further confirmed that Mastercard Gateway technology in integration with the global network of more than 200 acquirers paves the way for over 500 thousand merchants’ access to ongoing innovation and more than 110 million acceptance locations. In 2023, Mastercard Gateway processed more than 950 million payments in Saudi Arabia, across all payment methods, supporting the growth of digital commerce in the market.
