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Mastercard Eases Online Payments for Businesses and Consumers in Saudi Arabia

Mastercard has launched new payment flows to enhance online payment solutions through the Mastercard Payment Gateway Services (MPGS) technology. The offering will initially become available to local e-commerce merchants with support from the likes of Amazon Payment Services and Checkout.com.

Mastercard payment gateway technology will support merchants in Saudi Arabia to ensure compliance with the Kingdom’s requirements to route all domestic transactions through its domestic payment network, mada.

The network will include new transaction types to unlock membership payments, subscriptions, automated bill payments and a range of other website flows that require payments at regular intervals – without requiring the payer to be present on a website or app.

As Mastercard aims to create a quicker checkout experience for consumers, new payment flows can provide higher approval rates, increase consumer satisfaction, and ultimately create more conveniences.

For merchants, the launch aims to reduce preventable payment declines to maximise their revenue. Merchants will also enjoy a reduced risk of fraud, with consumer credentials protected against potential breaches.

The new solution enables merchants to store mada card credentials for use​ in later transactions. Merchants will also be able to perform recurring payments and share their order IDs with mada for improved reconciliation.

‘Making payments safe, simple and smart’ for Saudi Arabia
Maria Medvedeva
Maria Medvedeva, country business manager, Saudi Arabia and Bahrain, for Mastercard

Maria Medvedeva, country business manager, Saudi Arabia and Bahrain, for Mastercard, discussed the launch. Medvedeva said: “We are very excited to enhance the effectiveness of our payment gateway technology which enables businesses to keep pace with the latest in digital payments by removing complexities from the adoption of new payment technologies.

“With the launch of these new payment flows, we aim to connect and power an inclusive, digital economy that benefits everyone, everywhere by making payments safe, simple and smart for the people and businesses of Saudi Arabia.”

Peter George, managing director, Amazon Payment Services in the Middle East and North Africa, also commented: “As one of the region’s most trusted online payment gateways, Amazon Payment Services is committed to enabling merchants to do better at their business through simple, secure, and innovative solutions.

“Leveraging Mastercard’s technology and working alongside Saudi Payments, we are proud to continue playing a key role in facilitating online payments for businesses across Saudi Arabia, and to help foster further economic growth in the Kingdom. The launch of new payment flows will empower merchants by diversifying their payment options, providing greater flexibility and peace of mind, and in turn, enabling them to delight their customers.”

Remo Giovanni Abbondandolo, vice president for MENA at Checkout.com, said: “As global payments continue to evolve and grow more complex, the launch of these new payment flows sets mada apart as one of the most innovative and fastest growing payment systems in the region.

“Checkout.com was one of the first payment technical service providers to bring mada to the e-commerce market in 2018 and we are proud to continue supporting this partnership. These solutions will help merchants and consumers to unlock more value from their transactions.”

Author

  • Tom joined The Fintech Times in 2022 as part of the operations team; later joining the editorial team as a journalist.

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