Saudi British Bank (SABB) has joined forces with Mastercard to provide its customers a faster, simpler, and more protected way to send money across the globe.
The collaboration will enable SABB’s users to leverage Mastercard Send for Cross-Border push-payments platform to carry out cross-border money transfers in real-time.
The users will be able to send funds to all card and non-card destinations such as mobile and digital wallets, bank accounts, and ATM to more than 100 countries.
Mastercard Saudi Arabia and Bahrain general manager J.K. Khalil said: “The ability to make cross-border payments has never been more important, especially as Saudi Arabia works towards its vision of becoming a global model of excellence and connects its digital economy to the world.
“The ability to make fast, frictionless cross-border transfers is crucial in driving digitisation in the country as we aim to further support the growth of the digital economy in line with Vision 2030.”
SABB deputy managing director of retail Naif AlAbdulkareem stated: “This step is part of the bank’s on-going efforts to provide customers with best-in-class digital payment services which is instant, secure, and innovative with a competitive commercial offer.
“This would also positively contribute towards SABB’s vision of becoming the leading digital bank in the Kingdom.”
Recently, Swiss prepaid card issuer Swiss Bankers has introduced its latest peer-to-peer (P2P) money transfer service ‘Send’ in collaboration with Mastercard.
Earlier, Mastercard partnered with CleverCards and Appreciate Group to launch Europe’s first fully digital gift card.