FinTechGulf Countries

Tiqmo and Mastercard Sign an Agreement to Issue Prepaid Cards in Saudi Arabia

Tiqmo, an electronic wallet licensed by the Saudi Central Bank, has announced an exclusive partnership agreement with Mastercard. This partnership opens the door for Tiqmo to issue prepaid cards in the Kingdom of Saudi Arabia, representing a significant strategic step in the field of digital financial services.

Tiqmo will benefit from Mastercard’s diverse solutions, which include cross-border payment services and card tokenization, to provide advanced and comprehensive payment services. This will enable customers to benefit from a wide range of modern services that suit their changing and increasing needs in using digital wallets.

Abdulaziz bin Ajlan Al Ajlan, the CEO of Tiqmo, stated that this partnership aims to redefine financial services in the Kingdom and the region by providing enhanced digital experiences. He emphasized that this collaboration with Mastercard brings the company closer to achieving its goal of shaping the digital payments landscape to be among the best, safest, and most reliable globally.

On his part, Adam Jones, General Manager for the Central Region of the Middle East and North Africa at Mastercard, mentioned that the partnership with Tiqmo reflects Mastercard’s commitment to acting as a trusted partner for forward-looking companies to enable innovation and support growth. Jones hopes that this partnership will contribute to providing innovative and modern solutions in the Kingdom of Saudi Arabia and the entire region, thereby offering high-quality products and services that achieve peace of mind and ease of use for both companies and consumers.

This partnership aligns with Vision 2030 and the digital transformation goals in the Kingdom, especially regarding achieving a 70% cashless society by the end of the current decade. The partnership between Mastercard and Tiqmo aims to enhance their efforts in redefining financial services by offering innovative and modern digital products and services.

Tiqmo was founded in 2020 to create a world-class ecosystem for the digital services and payments market in the Middle East and North Africa region. Its vision is to innovate high-quality financial solutions for multiple sectors such as e-commerce, gaming, logistics, and education. This partnership with Mastercard is a significant step towards achieving this vision and providing advanced digital financial services that meet the needs of the new era.

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