Mastercard partners with SingleView in Saudi Arabia

Mastercard has collaborated with Riyadh-based Open Banking solutions provider SingleView to give businesses across Saudi Arabia greater access to corporate and commercial solutions that are powered by SingleView’s technology.

Through their strategic agreement, Mastercard and SingleView will work together to enable enterprises in the Kingdom to “unlock the value of data safely and securely”.

The partnership aims to advance the transformation of B2B corporate solutions, using Mastercard’s technology and SingleView’s suite of offerings.

Maria Medvedeva, country manager, Saudi Arabia and Bahrain at Mastercard said: “Today, data plays an even more important role in empowering enterprises to become more efficient.

“We have partnered with SingleView to harness the power of insights to the benefit of our partners and the businesses we serve.”

She added: “We aim to leverage our resources to pioneer first-of-their-kind commercial and corporate solutions that support businesses to optimise their financial performance.”

Mastercard’s partnership with SingleView is fully aligned with Saudi Arabia’s Vision 2030.

Abdulrhman Alarifi, chief executive officer of SingleView, said: “At a time when businesses are faced with increasingly complex challenges, we believe working with an innovation-driven partner such as Mastercard will be key to unlocking potential, providing enterprises [with] a competitive advantage through the unique combination of our respective resources.

“Ultimately, we aim to make the most of our solutions and Mastercard’s technology to boost businesses’ productivity.”

Earlier this year, Mastercard selected 15 startups from around the world to take part in its ‘Start Path’ engagement programs, focused on small business and Open Banking, respectively.

The six companies chosen for its Open Banking program will receive exposure to its Open Banking technology, data connectivity and analytics offerings.