Mastercard has agreed a collaboration with Enjaz Company, a Saudi Central Bank-licensed payments and remittance provider, to introduce a range of card products for Enjaz’s individual and business customers in Saudi Arabia.
Enjaz will use Mastercard’s technology to launch premium card products and digital offerings, the companies said in a statement on Tuesday. Financial terms were not disclosed.
The products are aimed at expatriates, frequent travelers and high-net-worth individuals, the statement said. It did not give a launch date.
Enjaz offers digital payment services through its digital channels and branch network. It enables transfers to more than 200 countries through partnerships with international financial institutions.
“We have collaborated with Mastercard to pioneer even more transformative offerings,” said Bassam Suleiman Aleidy, chief executive officer of Enjaz.
Saud Swar, Mastercard’s country manager for Saudi Arabia, Bahrain, Jordan and other Levant markets, cited the company’s SME Confidence Index 2026. It found that 77% of small and medium-sized enterprises surveyed in Saudi Arabia accept online payments, 67% accept card payments and 54% accept mobile payments.
Electronic payments accounted for 85% of total retail payments in Saudi Arabia in 2025, above the 70% target set under the Financial Sector Development Program, the statement said.
Saudi Arabia is home to just under two million small and medium-sized enterprises, according to the statement.
