Mastercard rolls out technology infrastructure at Seamless Saudi Arabia 2024

Riyadh – Mubasher: Mastercard launched new technology infrastructure in Saudi Arabia to enable the processing of ecommerce transactions locally, according to a press release.

The launch was announced On the sidelines of the Seamless Saudi Arabia 2024 event, which is currently being held at the Riyadh Front Centre.

The new infrastructure aims to secure payment experiences for both Mastercard partners and consumers, boosting the acceleration of the Kingdom’s digital commerce.

In line with Saudi Vision 2030, the project seeks to develop stronger payment platforms and ecosystem, drive digital transformation, and reinforce the national economy through locally relevant technology.

Meanwhile, the local establishment of Mastercard Gateway expands the technology company’s footprint in the region as part of its efforts to empower innovation in Saudi Arabia under the patronage of the Saudi Central Bank  (SAMA)

Adam Jones, Division President, West Arabia at Mastercard, commented: “As a company that is powering economies and empowering people, we understand the importance of a world-class payment infrastructure. 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.”

During his opening speech at the three-day conference, Abdulaziz Abanmi, Deputy Governor for Payments at SAMA, indicated that digital payment systems witnessed a 16% leap in the number of transactions by the end of the third quarter (Q3) of 2024.

Seamless Saudi Arabia kicked off on 22 October, registering more than 25,000 visitors and over 350 speakers. Mubasher Media joined the 2024 edition as the Media Partner to offer live event coverage.

Source: Mubasher Source: {{details.article.source}}