Mastercard has partnered with Fintech Saudi in a bid to develop and grow the FinTech industry in Saudi Arabia.
Fintech Saudi was launched by the Saudi Central Bank in partnership with the Capital Market Authority in April 2018 to help boost development of financial services technology in the country.
The organisation says it aims to support 525 FinTech start-ups in the country by 2023.
The new partnership will enable FinTechs to scale and grow their businesses as well as take advantage of opportunities to collaborate with other companies, said Mastercard.
The payments processor added that the partnership will “speed up the country’s digital transformation” and help Saudi companies go to market faster.
According to a report by Fintech Saudi, there are currently 147 active FinTechs in Saudi Arabia, a 79 per cent increase from 2021.
“As a global technology company in the payments industry, we pride ourselves on working closely with our private and public sector partners to transform the FinTech space in Saudi Arabia,” said Adam Jones, country general manager, MENA central, Mastercard. “Our partnership with Fintech Saudi aligns with this goal and will enable us to better support new and established startups by delivering secure, innovative, and diverse payment solutions and digital services.”
Latest News
-
WhistleblowersUK hits out at FCA after accusation of breached confidentiality
-
NatWest and Visa partner on travel credit card
-
PSR confirms APP reimbursement deadline to stay amidst industry optimism for U-turn
-
Deutsche Bank settles majority of Postbank claims, but challenges remain
-
Liverpool fans scammed more than any other football club supporters, warns NatWest
-
FCA warns many insurers still failing to demonstrate fair value after GAP pause
Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.
Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.
Click here to read the 2023 State of the Phish report from Proofpoint.
Click here to read the 2023 State of the Phish report from Proofpoint.
Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.
Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories