Mastercard has announced a strategic partnership with Enjaz, a leading financial services provider and remittance arm of Bank AlJazira in Saudi Arabia, to significantly expand and diversify prepaid and digital card offerings across the Kingdom.
Mastercard has announced a strategic partnership with Enjaz Company, one of Saudi Arabia’s leading financial services and digital wallet providers to significantly expand and diversify card payment options across the Kingdom.
The collaboration empowers Enjaz to evolve into a full-scale card issuer, providing individual consumers, expatriates, frequent travelers and businesses with an enhanced suite of secure payment tools tailored to their everyday financial and lifestyle needs.
By leveraging Mastercard’s advanced payment technology, Enjaz aims to deliver premium card products equipped with enhanced security features and personalized benefits.
The expanded offerings are specifically designed to cater to diverse customer groups, including expatriate communities and high-net-worth individuals, ensuring greater convenience, peace of mind and accessibility in managing day-to-day transactions.
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The partnership arrives as Saudi Arabia experiences rapid growth in digital commerce and financial technology, supported by national initiatives like Vision 2030. Recent figures show that electronic transactions account for 85% of total retail payments across the Kingdom, surpassing initial national targets.
Highlighting the vision behind the collaboration, Bassam Suleiman Aleidy, CEO of Enjaz stated that
“Saudi Arabia has changed markedly over the years, making tremendous headway on the road to social and economic progress. Digital transformation has had an indelible impact on all areas of business and life; with our customers and the businesses we support benefiting greatly from the development of an inclusive and sophisticated digital economy. We have collaborated with Mastercard to pioneer even more transformative offerings, empowering our customers with the rewarding payments tools and experiences they need to thrive in an evolving global economy.”
Saud Swar, Country Manager for Saudi Arabia, Bahrain and the Levant at Mastercard, emphasized the broader economic impact by saying
“The Kingdom’s FinTech and National Tourism strategies under the Saudi Vision 2030 have set the country apart as a burgeoning SME hub and a must-visit tourist destination with both sectors making significant contributions to GDP and the nation’s long-term prospects. As highlighted by the Mastercard SME Confidence Index 2026, digital adoption is changing the way business is conducted across these sectors with 77% of SMEs surveyed in Saudi Arabia accepting online payments, 67% accepting card payments and 54% accepting mobile payments.The introduction of our new card products and digital experiences will only serve to accelerate this transformation, enhancing the Saudi SME ecosystem, strengthening our payments infrastructure and bolstering the national economy.”
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