National Commercial Bank (NCB) has signed an agreement with Mastercard to roll out a range of card-based payment products to better serve its customers in Saudi Arabia.
Under the terms of the agreement, NCB will exclusively issue Mastercard branded debit and credit cards, as well as other commercial products.
Additionally, the partners will jointly work to develop and offer modern technologies and deliver new payment solutions for NCB customers.
The collaboration with Mastercard is part of the bank’s strategy to expand its operations and boost its position as the leading banking group in the Middle East.
NCB head of retail banking group Alsharif Khalid Al-Ghalib said: “This strategic agreement with Mastercard comes as part of our relentless efforts to deliver the latest and most innovative payment solutions to our customers.
“As the leading bank in Saudi Arabia, we are delighted to engage in this long-term partnership with Mastercard to leverage their global expertise and network to drive innovation and support the evolution of the Kingdom’s financial ecosystem.”
Mastercard Middle East and North Africa division president Khalid Elgibali said that both NCB and Mastercard will provide digital solutions across NCB’s private banking, wealth management, personal banking and youth segments, aimed at further improving the bank’s customer experience.