Mastercard, urpay team up to foster cross-border payment services

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Riyadh – Mastercard penned a strategic deal with urpay, a digital wallet powered by neolaep, to provide the latter’s consumers across the Kingdom with access to a wide range of cross-border payment solutions.

The agreement aligns with Mastercard’s objectives to drive digital transformation across the Kingdom’s financial services sector within the framework of Saudi Vision 2030, according to a press release.

Under the partnership, urpay will leverage Mastercard Move’s products and offerings to secure more added value and benefits to its customer base.

The collaboration between Mastercard and urpay will also bolster financial inclusion and create an even more accessible digital economy by enabling urpay's customers to conduct international payments to more than 180 countries worldwide. These services will be provided through urpay digital wallet.

Adam Jones, EVP and Division President, West Arabia, 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.”

Abdullah Alibrahim, CEO of neoleap, said: “We have set about doing that through the development of comprehensive, integrated services that empower consumers to complete their financial transactions with ease."

"We are working with Mastercard to deliver even more state-of-the-art propositions that meet our customers’ demands and accelerate the digital transformation of Saudi financial services,” Alibrahim noted.

Last month, Mastercard and Payment24 teamed up to reinforce security and drive innovation in the fleet and fuel payment industry across the EEMEA region.