Saudi Tweeq inks partnership deals with Mastercard, Paymentology

The partnerships will ensure a first-class customer experience through providing innovative digital payment solutions, including a spending account and contactless cards, according to a press release.

The collaboration with Mastercard and Paymentology is in tandem with Vision 2030, aiming to develop the FinTech environment and provide financial inclusion for all sections of society.

The initiative will provide Saudi-based individuals and small businesses with a seamless money management experience, enabling consumers to send and receive money, pay bills, shop online, make card purchases, set financial goals, and withdraw cash at their fingertips.

Khalid Elgibali, Division President, MENA, Mastercard, said, “Through its partnership with Mastercard, Tweeq will be able to offer the best smart money solutions in the kingdom. The unique digital experience will offer low-cost and fast turnaround times. It will provide a seamless, smart money management platform aimed at the financial needs of a predominately young population who run their lives on their smartphones and want payment solutions at their fingertips."

“The long-term plan is to launch Tweeq initially in Saudi Arabia and expand it throughout the Middle East and Africa,” he added.

Tweeq International Company, after fulfilling all the legal requirements and regulatory approvals to carry out its activities, aims to be the leading financial account management service provider for individuals and small companies by offering a safe environment and a unique experience for its clients in the kingdom and the MENA region.