Mastercard Move joins forces with urpay

In a bid to connect and support an inclusive digital economy, Mastercard signed an agreement with urpay, a financial technology company, to provide the latter’s customers across the Kingdom of Saudi Arabia (KSA) with access to a suite of cross-border payment solutions. As part of their partnership, Mastercard and urpay intend to contribute to the digital improvement of the Saudi financial services sector, which follows the region’s Vision 2030 strategy.

In addition, by utilising Mastercard’s portfolio of money transfer features, Mastercard Move and its technology, urpay is set to enable its customer base with access to the former’s cross-border and remittance solutions. Mastercard Move is the company’s suite of money movement features that support several payment experiences, including person-to-person payments, business payments, and disbursements. Including Mastercard Cross-Border Services and Mastercard Send, the portfolio is set to enable urpay to offer consumers additional benefits and an improved experience.

The agreement between the two companies aims to allow urpay customers to leverage new products and offerings, such as cash pick-up, bank deposits, and digital wallet transfers, that can fit their needs and requirements. Also, the partnership between Mastercard and urpay focuses on advancing financial inclusion and developing a more accessible digital economy by assisting the latter’s users in making international payments to more than 180 countries globally. The press release mentions that these services are set to be provided via the urpay digital wallet.

Moreover, according to Mastercard’s officials, by joining forces with urpay, the company intends to enable consumers across the Kingdom to conduct secure and convenient international payments via its diverse selection of offerings. Representatives from urpay underlined that the collaboration aims to deliver additional propositions that meet the demands of the company’s customers and accelerate the digital improvement of the KSA financial services.

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