back Back

Mastercard and SiFi team to empower businesses in Saudi Arabia

By Delisha Fernandes

October 17, 2023

  • accounting
  • B2B Payments
  • B2C payment
Share

Mastercard, One GlobalMastercard has signed an agreement with Alhulul Almobassatah Financial Company (SiFi) to empower small and medium-sized enterprises (SMEs) in Saudi Arabia with a range of innovative offerings.

The agreement brings Mastercard, a technology company in the global payments sector together with SiFi, a Saudi-based FinTech that simplifies how businesses manage spend to provide greater access to novel financial solutions: offerings designed to overcome challenges in controlling spend, managing expense reports, and accessing analytics to save money.

“Mastercard is a key partner for SiFi. As a reputable player in the payment technology field, Mastercard’s expertise and flexibility helps us adapt to our evolving needs and improve our service to customers. With their support, we can better understand and address our customers’ expectations,” said H.E. Ahmed Alhakbani, Founder and CEO of SiFi.

Mastercard’s agreement with SiFi marks the step taken by the technology company to empower the Kingdom’s burgeoning FinTech community and transform Saudi entrepreneurship. Utilizing Mastercard’s expertise, ecosystem, network, and resources, SiFi will have the ability to issue corporate cards with ease to SMEs and enterprises across the Kingdom, enabling them to meet the demands of a rapidly evolving global economy.

Adam Jones, Country General Manager, MENA Central, Mastercard, said, “As Saudi Arabia’s SME space continues to grow, it is our responsibility to effect more positive change, serving as the partner of choice to fuel that growth. At Mastercard, we are committed to working closely with partners to co-create solutions and offer access to our technology and expertise. Our agreement with SiFi is fully geared towards achieving this goal.”

The exclusive agreement will support more SMEs around the country, with SiFi issuing commercial cards to employees, providing real-time expense tracking capabilities, and automating accounting entries. By enabling more businesses to streamline operations, the partnership will help to save time and money, while improving compliance and visibility into spending.

Previous Article

October 17, 2023

Adyen & NewStore enable Tap to Pay on iPhone in Australia

Read More
Next Article

October 17, 2023

Tonik & Sun Life Grepa team to offer insurance solutions

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

December 06, 2024

PayPoint & Lloyds Bank enhance merchant services for UK SMEs

Read More

December 06, 2024

Premier Bank & Mastercard roll out Sharia-compliant cards in Kenya

Read More

December 06, 2024

Mambu acquires French PayTech provider Numeral

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q3 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More