Riyadh - Sharikat Mubasher: Barq, a leading digital wallet for consumers and businesses in Saudi Arabia, partnered with Mastercard to empower its customers in the Kingdom with advanced payment acceptance solutions through Mastercard Gateway, the fintech company announced in a statement.

Through this partnership, Barq will leverage Mastercard Gateway technology to equip its merchants and consumers around the Kingdom with greater access to a wide range of value-added services and personalized solutions that cater to their unique needs and preferences.

This partnership will expand Barq’s service offering, utilizing Mastercard Gateway’s seamless payment processing and robust fraud prevention technology.

Ahmed Alenazi, Founder and CEO of Barq, said: “We have partnered with Mastercard to deliver the modern offerings that consumers demand. Mastercard has developed a world-class range of cross-border services and remittance solutions. We look forward to working closely with the technology company to empower the people and communities we serve with seamless access to these tools.”

Meanwhile, Maria Parpou, Executive Vice President of Mastercard Payment Gateway affirmed the company’s dedication to serving as a partner of choice to the Kingdom in its transformation journey.

“We strive to play a key role in driving the growth and development of the Saudi fintech ecosystem, working closely with innovative companies such as Barq. Together, we aim to redefine financial services, curating an expansive portfolio of world-class offerings that empower people and businesses to make payments as they please,” Parpou elaborated.

Mastercard Gateway offers advanced payment processing and fraud prevention technology to acquiring banks, merchants, micro-merchants, and technology partners.