Collaboration will bring more businesses and affluent segments of the Saudi market into the digital economy through a new range of products and services
Riyadh : Mastercard today announced a collaboration with Enjaz Company, one of the Kingdom’s leading and trusted providers of financial services and digital wallets, including money transfer solutions. The initiative aims to empower Enjaz’s individual and business customers across Saudi Arabia with greater access to an expanded range of exclusive card offerings that will enhance consumers’ financial services and payments experiences.
In a move that will significantly expand Enjaz’s product suite and customer base, transforming the provider into one of the country’s most reliable card issuers, the collaboration will equip the entity’s existing customers with the tools to meet their daily financial and lifestyle needs.
Catering to the demands of Saudi Arabia’s rapidly growing communities of expatriates, frequent travelers and High-Net-Worth Individuals (HNWIs), Enjaz Company will leverage Mastercard’s state-of-the-art technology to introduce an expansive suite of card products to the Kingdom. These premium card products and digital offerings will provide added convenience and peace of mind, delivering elevated experiences marked by greater security and personalized benefits.
“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,” said Mr. Bassam Suleiman Aleidy, CEO, Enjaz.
“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,” said Mr. Saud Swar, country manager – Saudi Arabia, Bahrain, Jordan and other Levant, Mastercard.
At a time when more enterprises are playing a leading role in Saudi Arabia’s economic transformation, with just under two million SMEs calling the Kingdom home, the Mastercard and Enjaz collaboration will help raise the Kingdom’s cashless transaction rate, taking the Kingdom’s cashless transformation even further, after electronic payments accounted for 85% of total retail payments in 2025, exceeding the Financial Sector Development Program’s target of 70%.
