SNB Group and Mastercard have expanded their strategic partnership to strengthen digital commerce and payment capabilities for merchants across Saudi Arabia. As part of the expanded collaboration, SNB will continue using Mastercard Gateway under Mastercard Merchant Solutions, a unified global payments platform that gives businesses access to a broad range of technologies and services through a single integration point. The partnership is expected to enable SNB to provide merchants with secure, seamless and scalable payment solutions while helping businesses respond to changing consumer preferences and grow their digital operations.
The collaboration combines SNB’s established position in the Saudi financial market with Mastercard’s international payments expertise to help businesses adapt to the rapidly changing commerce environment. The enhanced payment capabilities are intended to support merchants of different sizes in accessing new digital commerce opportunities while contributing to the growth of Saudi Arabia’s payments infrastructure and wider digital transformation efforts.
“Developing the digital payments and e-commerce ecosystem is an important pillar of our strategy at SNB, driven by our role in enabling the business sector and supporting the transition towards a more efficient and innovative digital economy. Combining our leadership in the financial sector and payment acceptance solutions with Mastercard’s global network, technology and expertise, our collaboration will provide merchants with enhanced payment capabilities designed to meet the rising demands of Saudi Arabia’s thriving e-commerce sector. Together, we support the development of a reliable and scalable digital payment infrastructure that contributes to the Kingdom’s digital transformation ambitions,”
-Ahmed Bassam Abu Khamsin, Head, Global Transaction Banking, SNB Group
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“Mastercard and SNB share a commitment to fueling the ongoing evolution of Saudi Arabia’s digital payments landscape in line with Vision 2030. We are delighted to strengthen our long-standing relationship with one of the Kingdom’s leading financial institutions. Our new agreement provides a strong foundation for future innovation opportunities, allowing us to explore new ways to enhance payment experiences, support merchant growth and contribute to Saudi Arabia’s vibrant digital economy.”
-Saud Swar, Country Manager, Saudi Arabia, Bahrain, Jordan and other Levant, Mastercard
The expanded partnership builds on SNB Group’s efforts to help businesses adapt to the rapid expansion of e-commerce. This includes developing payment acceptance services and delivering digital solutions that are designed to be efficient, flexible and secure for both merchants and consumers.
Saudi Arabia continues to experience strong growth in e-commerce, with the market currently estimated at $31.29 billion. It is projected to reach $54.87 billion by 2031, representing a compound annual growth rate (CAGR) of 11.92%. To support the sector’s expansion, the Saudi Central Bank (SAMA) introduced a new e-commerce payments interface last year, aimed at keeping the country’s payments infrastructure aligned with the growing digital commerce market.
