Mastercard and Loop Forge Alliance in Saudi Arabia

Mastercard and Loop Forge Alliance in Saudi Arabia

Time Stamp: February 29, 2024 4:13 AM
Mastercard and Loop Forge Alliance in Saudi Arabia PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Mastercard has announced a collaboration with Loop, a digital
payments technology company licensed by SAMA in Saudi Arabia. The partnership
intends to provide businesses and consumers across the nation with expanded
access to advanced credit card offerings and innovative payment solutions.

As part of the collaboration, Loop will diversify its
portfolio and enrich its range of products and services by leveraging
Mastercard’s technology and expertise. Under an exclusive issuing agreement,
Loop and Mastercard will jointly issue BIN ranges, facilitating access to
innovative payment solutions for consumers, merchants, and fintech entities
throughout the Kingdom.

Adam Jones, Country General Manager, MENA Central, Mastercard, Source: LinkedIn

“Today, technology and innovation are the bedrocks of
sustained success; particularly with businesses and financial institutions
around the world being confronted with new and unprecedented challenges. We
work to empower our clients and partners with the tools to meet their targets
and accomplish their goals. We aim to enable Loop to do just that, catering to
the needs of Saudi businesses and consumers with an innovative range of payment
solutions,” said Adam Jones, the Country General Manager of MENA Central at Mastercard.

The partnership marks a step forward in the advancement of
digital payments infrastructure within Saudi Arabia, potentially opening new
avenues for businesses and consumers to engage in seamless and secure
transactions.

Recognizing the Challenges of Modern Business

Mastercard has recently introduced an initiative aimed at
enhancing opportunities
for small business owners (SBEs) globally, as reported by Finance Magnates. Acknowledging the
significant contribution of small businesses to the global economy, the company
has launched Mastercard Small Business AI, an advanced Artificial Intelligence
tool designed to deliver personalized guidance and assistance to SBEs at their
convenience.

Operating within today’s business landscape presents
numerous challenges for small business owners who often encounter limitations in both in
time and resources. With a majority of small businesses operating without
employees and a high percentage valuing mentorship, there is a clear need for
tailored solutions. Mastercard Small Business AI aims to meet this demand by
providing scalable mentorship, offering continuous guidance from a variety of
sources.

Mastercard has announced a collaboration with Loop, a digital
payments technology company licensed by SAMA in Saudi Arabia. The partnership
intends to provide businesses and consumers across the nation with expanded
access to advanced credit card offerings and innovative payment solutions.

As part of the collaboration, Loop will diversify its
portfolio and enrich its range of products and services by leveraging
Mastercard’s technology and expertise. Under an exclusive issuing agreement,
Loop and Mastercard will jointly issue BIN ranges, facilitating access to
innovative payment solutions for consumers, merchants, and fintech entities
throughout the Kingdom.

Adam Jones, Country General Manager, MENA Central, Mastercard, Source: LinkedIn

“Today, technology and innovation are the bedrocks of
sustained success; particularly with businesses and financial institutions
around the world being confronted with new and unprecedented challenges. We
work to empower our clients and partners with the tools to meet their targets
and accomplish their goals. We aim to enable Loop to do just that, catering to
the needs of Saudi businesses and consumers with an innovative range of payment
solutions,” said Adam Jones, the Country General Manager of MENA Central at Mastercard.

The partnership marks a step forward in the advancement of
digital payments infrastructure within Saudi Arabia, potentially opening new
avenues for businesses and consumers to engage in seamless and secure
transactions.

Recognizing the Challenges of Modern Business

Mastercard has recently introduced an initiative aimed at
enhancing opportunities
for small business owners (SBEs) globally, as reported by Finance Magnates. Acknowledging the
significant contribution of small businesses to the global economy, the company
has launched Mastercard Small Business AI, an advanced Artificial Intelligence
tool designed to deliver personalized guidance and assistance to SBEs at their
convenience.

Operating within today’s business landscape presents
numerous challenges for small business owners who often encounter limitations in both in
time and resources. With a majority of small businesses operating without
employees and a high percentage valuing mentorship, there is a clear need for
tailored solutions. Mastercard Small Business AI aims to meet this demand by
providing scalable mentorship, offering continuous guidance from a variety of
sources.

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