Riyadh – Sharikat Mubasher: Mastercard announced it has partnered with STC Bank to strengthen cross-border payment options for customers across Saudi Arabia, expanding access to international money transfers for both individuals and businesses.
According to a recent press release, this collaboration will allow STC Bank customers to send funds digitally from the Kingdom to more than 120 countries, addressing growing demand for faster, more transparent, and cost-effective international payments.
The move reflects the wider shift in Saudi Arabia’s financial sector toward digital-first services, as payment behavior continues to evolve.
The partnership is built on Mastercard Move, the company’s global money movement platform, which supports secure international transfers and multiple payout options. By integrating these capabilities, STC Bank aims to offer customers greater flexibility when sending money abroad, with clearer visibility over fees, delivery times, and final received amounts.
Onur Kursun, Executive Vice President for Commercial and New Payment Flows at Mastercard in EEMEA said: “There is a growing expectation for payments to be fast, seamless, and reliable, regardless of borders.” He further noted that the collaboration is designed to simplify cross-border transactions for Saudi users.
Meanwhile, Mohammad Refaie, Acting Chief Commercial Officer at STC Bank, said the initiative supports the bank’s strategy to expand its digital services offering and enhance access to modern financial solutions in the Kingdom.
The rollout comes as cross-border payments remain a priority for consumers, particularly those seeking broader payout options such as bank accounts, digital wallets, cards, and cash.
