{"id":565752,"date":"2024-12-18T08:38:41","date_gmt":"2024-12-18T07:38:41","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&p=565752"},"modified":"2024-12-18T08:38:41","modified_gmt":"2024-12-18T07:38:41","slug":"mastercard-jeel-team-up-to-modernise-payments-in-saudi-arabia","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/mastercard-jeel-team-up-to-modernise-payments-in-saudi-arabia\/","title":{"rendered":"Mastercard & Jeel team up to modernise payments in Saudi Arabia"},"content":{"rendered":"

\"JeelMastercard and Jeel<\/a>, a subsidiary of Riyad Bank, have joined forces to enable digital solutions, including AI, to drive innovation in Saudi Arabia.<\/p>\n

Introducing a novel offering to the Kingdom, the collaboration will see the two entities work together to serve all non-banking financial institutions (NBFI) market segments. This will provide seamless access to new digital use cases, such as Mastercard Card-as-a-Service (CaaS) and Bank-as-a-FinTech (BaaF) propositions, to Saudi Arabia.<\/p>\n

\u201cWe are very pleased to be working closely with Mastercard to empower new market segments and demographics with access to Mastercard’s diverse range of innovative offerings and benefits,\u201d said George Harrak, CEO of Jeel<\/strong>. \u201cWe aim to offer these propositions in several pricing schemes such as pay-as-you-grow subscriptions, making them as easily accessible as possible \u2014 in weeks as opposed to months. Ultimately, we believe this agreement will help support Jeel\u2019s technological advancements in delivering cutting-edge solutions that shape the demand for technology in Saudi Arabia.\u201d<\/p>\n

\u201cWe are very much driven by our determination to advance innovative infrastructure and develop ecosystems that boost the Kingdom’s prospects and transform its digital economy,\u201d said Gaurang Shah, Executive Vice President of Product and Engineering, EEMEA, Mastercard<\/strong>.\u00a0 \u201cAs part of this mission, we strive to pioneer market-ready services and responsive platforms that cater to consumers’ needs. Our collaboration with Jeel will further enable us to curate an advanced suite of novel solutions that advance the wider ecosystem in Saudi Arabia and beyond.\u201d<\/p>\n

This collaboration<\/a> aims to bring unprecedented benefits to a wide range of stakeholders. It will empower non-banking financial institutions to bring innovative products to the market swiftly and efficiently with greater ease and peace of mind.<\/p>\n

FinTech companies can expect faster time to market by solving obstacles of BIN sponsorship and Mastercard digital first issuing assets access. As a result, consumers will also be empowered with greater choices, including a wider range of bundled digital financial products.<\/p>\n","protected":false},"author":35737,"featured_media":565753,"parent":0,"template":"","categories":[29445,42764],"tags":[41288,35430,12474,12472,13432,11515,21391,37162,47911,42586,11727,41287,29001,33654,14159],"class_list":["post-565752","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-cards-management","category-digital-payments","tag-bank-as-a-fintech","tag-bin-sponsorship","tag-bnpl","tag-financial-inclusion","tag-financial-solutions","tag-fintech","tag-fintech-news","tag-fintech-saudi-arabia","tag-jeel","tag-jeel-pay","tag-mastercard","tag-mastercard-card-as-a-service","tag-nbfi","tag-payment-modernisation","tag-riyad-bank"],"acf":[],"yoast_head":"\nMastercard & Jeel team up to modernise payments in Saudi Arabia<\/title>\n<meta name=\"description\" content=\"Mastercard and Jeel have joined forces to enable digital solutions, including AI, to drive innovation in Saudi Arabia\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/mastercard-jeel-team-up-to-modernise-payments-in-saudi-arabia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mastercard & Jeel team up to modernise payments in Saudi Arabia\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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