barq, a Saudi monetary companies startup, has introduced a partnership with Mastercard. This settlement will permit barq to supply a variety of cost acceptance options via Mastercard Gateway.
The partnership goals to offer retailers and customers in Saudi Arabia with entry to numerous companies that cater to their particular wants.
barq plans to make use of Mastercard Gateway know-how to reinforce its service choices. The partnership is anticipated to enhance comfort, pace, and safety for purchasers. This consists of superior cost processing and fraud prevention options that shall be built-in into barq’s platform.
“This represents an thrilling level in historical past – each for the Kingdom and the broader monetary companies trade,” mentioned barq Govt & Founder.
“At a time when Saudi companies, residents and residents are more and more in search of methods to ship cash throughout the globe rapidly and securely, we now have partnered with Mastercard to ship the fashionable choices that customers demand.”
barq indicators settlement with Mastercard to empower companies with superior cost acceptance know-how https://t.co/jZEAnT9q4T
— Saudi ICT Shopper Information | صحيفة سعودي شوبر (@ssict) September 6, 2024
Supporting Imaginative and prescient 2030
The collaboration aligns with Saudi Arabia’s Imaginative and prescient 2030, which focuses on the digital transformation of economic companies. The partnership additionally responds to the growing demand for cross-border monetary transactions within the Kingdom.
Mastercard Gateway know-how shall be utilized to assist these developments, providing companies equivalent to automated funds, subscriptions, and instalments.
Maria Parpou, EVP Cost Gateway, Mastercard, commented: “We try to play a key function in driving the expansion and growth of the Saudi fintech ecosystem, working intently with progressive corporations equivalent to barq. Collectively, we goal to redefine monetary companies, curating an expansive portfolio of world-class choices that empower individuals and companies to make funds as they please.”