Riyadh - Sharikat Mubasher: Urpay, a digital wallet powered by the Saudi-based fintech company Neoleap, signed a strategic agreement with Mastercard to provide convenient and secure cross-border payment services to consumers across the Kingdom.
In a statement, the company revealed that the partnership will contribute to the digital transformation of the Saudi financial services sectors, in conjunction with Vision 2030.
This collaboration will enable Urpay to empower its broad customer base with access to Mastercard’s cross-border and remittance services, leveraging Mastercard’s full portfolio of money transfer capabilities, Mastercard Move.
Under this partnership, Urpay customers will benefit from a wide range of products and offerings that cater to their preferences, including cash pick-up, bank deposit, and digital wallet transfers. Additionally, they will be able to make global payments to more than 180 countries around the world via the Urpay digital wallet.
Abdullah Alibrahim, CEO of Neoleap, affirmed that the partnership with Mastercard aims to deliver state-of-the-art propositions that meet customers’ demands and accelerate the digital transformation of Saudi financial services.
“We have set about doing that through the development of comprehensive, integrated services that empower consumers to complete their financial transactions with ease,” Alibrahim added.
This collaboration reflects the shared commitment of Urpay and Mastercard to creating a thriving digital economy and meeting the growing demand for modern offerings that cater to citizens’ and residents’ preferences.
Adam Jones, Executive Vice President and Division President for West Arabia at Mastercard, commented: “Together with Urpay, we aim to empower consumers across the Kingdom to make more secure and straightforward international payments through our diverse selection of offerings.”
Mastercard Move is Mastercard’s portfolio of money movement capabilities powering a variety of payment experiences, including person-to-person payments, business payments, and disbursements. The portfolio includes Mastercard Cross-Border Services and Mastercard Send.
Urpay aims to drive financial inclusion by pioneering a versatile and accessible array of solutions that make consumers’ financial transactions safe, straightforward, and seamless.