barq, a Saudi monetary companies startup, has introduced a partnership with Mastercard. This settlement will enable barq to supply a spread of cost acceptance options by means of 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 boost its service choices. The partnership is anticipated to enhance comfort, pace, and safety for patrons. This contains superior cost processing and fraud prevention options that can 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 Government & Founder.
“At a time when Saudi companies, residents and residents are more and more searching for methods to ship cash throughout the globe shortly and securely, we’ve got partnered with Mastercard to ship the trendy 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 rising demand for cross-border monetary transactions within the Kingdom.
Mastercard Gateway know-how can be utilized to assist these developments, providing companies resembling computerized funds, subscriptions, and instalments.
Maria Parpou, EVP Fee Gateway, Mastercard, commented: “We try to play a key function in driving the expansion and improvement of the Saudi fintech ecosystem, working intently with progressive corporations resembling barq. Collectively, we intention to redefine monetary companies, curating an expansive portfolio of world-class choices that empower folks and companies to make funds as they please.”
