Mastercard X Enjaz
Mastercard and Enjaz have formed a strategic collaboration to introduce a new suite of payment cards and digital services across Saudi Arabia. The initiative allows individual consumers and corporate clients to access dedicated card solutions designed for daily transactions and lifestyle needs. Furthermore, the roll-out caters to growing market segments including expatriate communities, frequent travelers, and high-net-worth individuals.
Partnership Details Between Mastercard and Enjaz
Through this agreement, Enjaz Company expands its product lineup and customer base within the Kingdom. The licensed fintech entity provides financial services, payment solutions, and apps with digital wallets through digital platforms and branches. In addition, the organization operates under regulatory authorization from the Saudi Central Bank and supports cross-border transfers to over 200 countries.
Executive Commentary on Financial Services
Commenting on the agreement between Mastercard and Enjaz, officials highlighted that digital tools remain central to financial progress across multiple commercial sectors.
“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.”
Bassam Suleiman Aleidy, CEO, Enjaz
Digital Adoption Across Small and Medium Enterprises
Market data from the payment network indicates a rapid transition toward electronic settlement tools among local merchants. According to the Mastercard SME Confidence Index 2026, 77% of surveyed enterprises in the country accept online payments. Meanwhile, 67% accept card transactions and 54% process payments through mobile channels.
“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.”
Saud Swar, Country Manager for Saudi Arabia, Bahrain, Jordan and Levant, Mastercard
Progress Toward Cashless Targets
Nearly two million small and medium enterprises currently operate in the domestic economy, supporting diverse commercial goals. Furthermore, ongoing national initiatives actively support development in financial technology as well as international tourism. Electronic payments achieved 85% of total retail payment volume during 2025, which exceeded the Financial Sector Development Program benchmark of 70%. Consequently, the new card solutions from Mastercard and Enjaz support broader cashless adoption across the country.
