Riyadh, Saudi Arabia – barq, a cutting-edge Saudi financial services startup, has announced a strategic partnership with Mastercard to empower its customers with industry-leading payment acceptance solutions via the Mastercard Gateway. This collaboration aims to provide merchants and consumers across the Kingdom with advanced, value-added services that offer greater convenience, security, and efficiency.
Under the agreement, barq will leverage Mastercard Gateway’s seamless payment processing capabilities, including robust fraud prevention technology, to deliver personalized solutions tailored to the unique needs of its users. The partnership is expected to significantly expand barq’s service offerings, allowing businesses and consumers in Saudi Arabia to benefit from secure, fast, and efficient payment options.
Speaking on the occasion, Ahmed Alenazi, Executive & Founder of barq, highlighted the significance of this collaboration: “This represents an exciting moment for both Saudi Arabia and the global financial services industry. As businesses, citizens, and residents seek quicker and more secure ways to transfer money globally, our partnership with Mastercard will enable us to meet the demand with modern solutions. Mastercard’s world-class cross-border services and remittance solutions will help us equip our communities with seamless access to these tools.”
Maria Parpou, Executive Vice President of Payment Gateway at Mastercard, echoed these sentiments, emphasizing the importance of supporting Saudi Arabia’s fintech ecosystem: “At Mastercard, we take pride in being a partner of choice for the Kingdom as it continues its transformative journey. By collaborating with innovative companies like barq, we aim to redefine financial services, offering a comprehensive suite of solutions that empower individuals and businesses to make payments on their terms.”
This partnership aligns with Saudi Arabia’s Vision 2030, contributing to the nation’s ongoing digital transformation of financial services. As the demand for cross-border financial transactions grows, the Mastercard Gateway will enable barq to meet the needs of businesses and individuals by offering a range of services, including membership subscriptions, automatic payments, installments, and more.
Mastercard Gateway’s advanced technology serves acquiring banks, merchants, micro-merchants, and technology partners by providing secure and innovative digital payment solutions. With its extensive global reach and commitment to security, Mastercard is well-positioned to help companies like barq compete in the evolving digital payments landscape.
About Mastercard
Mastercard (NYSE: MA) is a global technology leader in the payments industry. Its mission is to connect and power an inclusive digital economy, making transactions safe, simple, and accessible worldwide. By leveraging secure data, innovative networks, and strategic partnerships, Mastercard enables individuals, financial institutions, governments, and businesses to unlock their full potential. With a presence in over 210 countries and territories, Mastercard is building a sustainable world, offering limitless possibilities for all.
For more information, visit: www.mastercard.com
