{"id":53766,"date":"2024-12-15T15:29:49","date_gmt":"2024-12-15T12:29:49","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=53766"},"modified":"2026-03-28T07:12:47","modified_gmt":"2026-03-28T04:12:47","slug":"mastercard-collaborates-with-jeel-to-drive-payment-modernization-in-saudi-arabia","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/mastercard-collaborates-with-jeel-to-drive-payment-modernization-in-saudi-arabia\/","title":{"rendered":"Mastercard collaborates with Jeel to drive payment modernization in Saudi Arabia\u00a0"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Riyadh, Saudi Arabia\u00a0\u2013\u00a015 December 2024:<\/strong>\u00a0Mastercard and Jeel \u2014 a subsidiary of Riyad Bank \u2014 are joining forces to enable digital and cutting-edge solutions such as AI to drive innovation in Saudi Arabia.\u00a0\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Introducing the novel offering to the Kingdom will allow the two entities to work together to serve all non-banking financial institutions (NBFI) market segments. To Saudi Arabia, this will provide seamless access to new digital use cases, such as Mastercard Card-as-a-Service (CaaS) and Bank-as-a-Fintech (BaaF) propositions.\u00a0<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201cWe are very pleased to be working closely with Mastercard to empower new market segments and demographics with access to Mastercard&#8217;s diverse range of innovative offerings and benefits,\u201d said&nbsp;<strong>George Harrak, CEO of Jeel.<\/strong>&nbsp;\u201cWe aim to offer these propositions in several pricing schemes such as pay-as-you-grow subscription, making them as easily accessible as possible \u2014 in weeks as opposed to months. Ultimately, we believe this agreement will help support&nbsp;Jeel\u2019s technological advancements in delivering cutting-edge solutions that shape the demand of technology&nbsp;in Saudi Arabia.\u201d<\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201cWe are very much driven by our determination to advance innovative infrastructure and develop ecosystems that boost the Kingdom&#8217;s prospects and transform its digital economy,\u201d said&nbsp;<strong>Gaurang Shah, Executive Vice President, Product and Engineering, EEMEA, Mastercard.<\/strong>&nbsp;&nbsp;\u201cAs part of this mission, we strive to pioneer market-ready services and responsive platforms that cater to consumers&#8217; needs. Our collaboration with Jeel will further enable us to curate an advanced suite of novel solutions that advance the wider ecosystem in Saudi Arabia and beyond.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">This collaboration will bring unprecedented benefits to a wide range of stakeholders. It empowers non-banking financial institutions to swiftly and efficiently bring innovative products to the market with greater ease and peace of mind. Fintech companies can expect faster time to market by solving obstacles of BIN sponsorship and Mastercard digital first issuing assets access. As a result, consumers will also be empowered with greater choices, including a wider range of bundled digital financial products.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Riyadh, Saudi Arabia\u00a0\u2013\u00a015 December 2024:\u00a0Mastercard and Jeel \u2014 a subsidiary of Riyad Bank \u2014 are joining forces to enable digital and cutting-edge solutions such as AI to drive innovation in Saudi Arabia.\u00a0\u00a0 Introducing the novel offering to the Kingdom will allow the two entities to work together to serve all non-banking financial institutions (NBFI) market [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":53767,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-53766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized 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