Mastercard has announced a strategic collaboration with Saudi Arabian financial services provider Enjaz Company to introduce a new range of payment cards and digital financial services across the Kingdom.
The partnership aims to expand Enjaz's product portfolio and provide individual and business customers with access to additional payment solutions supported by Mastercard's global network and financial technology infrastructure.
Under the agreement, Enjaz plans to introduce card products tailored to different customer segments, including expatriates, frequent travelers, high-net-worth individuals and businesses seeking more convenient payment services.
The new offerings are expected to combine secure payment functionality with premium benefits and digital experiences designed to address customers' evolving financial and lifestyle requirements.
Enjaz, a Saudi financial services provider specializing in digital wallets, remittances and money transfer solutions, is seeking to expand its position in the country's financial services industry through the introduction of additional card-based products.
By using Mastercard's payment infrastructure and technology, the company aims to broaden its services beyond traditional money transfers while improving the overall customer payment experience.
For Mastercard, the collaboration supports its continued expansion within Saudi Arabia's rapidly developing digital payments ecosystem.
The partnership also aligns with the Kingdom's broader efforts to encourage cashless transactions, expand financial access and strengthen the role of financial technology in economic development.
As Saudi Arabia continues investing in digital financial services, partnerships between international payment networks and local providers are playing an increasingly important role in developing new consumer and business payment solutions.
The companies have not disclosed a complete product launch schedule or the financial terms of the agreement.
