tiqmo and Mastercard Forge Exclusive Partnership to Revolutionize Digital Payments in Saudi Arabia

tiqmo and Mastercard Forge Exclusive Partnership to Revolutionize Digital Payments in Saudi Arabia

By Press Release, 17 January 2024

tiqmo, a leading innovative fintech application licensed by the Saudi Central Bank (SAMA), has signed an exclusive issuing partnership agreement with Mastercard to issue prepaid cards in the Kingdom of Saudi Arabia. 

Using Mastercard’s diverse range of solutions, including the technology company’s Cross-Border Payment services and tokenization, Tiqmo will be enabled to offer consumers greater access to an advanced suite of modern payment services — services that cater to the changing needs and demands of the wallet’s users.

“Our goal is to redefine the digital financial services by offering access to enhanced innovative digital experiences – experiences that put consumers’ financial futures in their hands. Ultimately, we aim to reshape the Kingdom and region’s digital payments space, elevating it to become one of the best, most secure and reliable in the world. Our partnership with Mastercard takes us one step closer to achieving this, expanding our product portfolio and delivering an advanced range of products,” said Abdulaziz Ajlan AlAjlan, managing director, Tiqmo.

“We are fully committed to empowering innovation and driving growth by serving as a partner of choice to future-focused entities. Together with Tiqmo, we aim to introduce even more state-of-the-art solutions to the Kingdom and region, pioneering offerings that deliver greater convenience, peace of mind and quality to businesses and consumers,” said Adam Jones, country general manager, MENA Central, Mastercard.

In line with Vision 2030 and the Kingdom’s digital transformation objectives — not least the aim to create a 70% cashless society by the end of the decade — the partnership extends both Mastercard and Tiqmo’s work to redefine financial services, changing it for the better by launching leading-edge digital products, services and experiences.

Founded in 2020, Tiqmo aims to build a world-class digital payments ecosystem for the Middle East and North Africa financial services and marketplace, creating quality and easy-to-access solutions for e-commerce, gaming, logistics and education.

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