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MID DLE EAST

A strategic partnership agreement between Hakbah , an alternative financial saving platform based in Riyadh , Saudi Arabia , and Visa will enable Hakbah to issue Visa prepaid cards to customers in Saudi Arabia and GCC .

signed a multi-year strategic partnership agreement with Visa , a world leader in digital payments , to issue Visa prepaid cards to its customers in Saudi Arabia and GCC .

Hakbah is modernising financial saving via its intelligent platform by offering a comprehensive one-stop-shop solution for Savings Groups to initiate , manage , join

This partnership is also in line with Vision 2030 and will reflect positively on achieving the UN Sustainable Development Goals and Saudi Financial Sector Programme . and pay directly within the mobile app . The solution offers customers a convenient and simple method for Savings Groups ’ habit .

Naif AbuSaida , Founder of Hakbah , said : “ We are proud to partner with Visa , and we envision this will enable Hakbah and Visa to work closely in accelerating secure and convenient payment and alternative financial saving solutions . The partnership could not have come at a better time considering the growth opportunities in Saudi Arabia – estimated at US $ 6 billion annually – for digitalising payments , increasing capitalisation of savings and for better savings solutions for the underbanked . This partnership is also in line with Vision 2030 and will reflect positively on achieving the UN Sustainable Development Goals and Saudi Financial Sector Programme . We are passionate by the magnitude of how this will empower our users and encourage more financial saving in Saudi Arabia and the MENA region .”

Ali Bailoun , Visa ’ s General Manager for Saudi Arabia , said : “ Visa is pleased to partner with Hakbah to launch a digital payment solution that will help make it more convenient and secure for its Saudi and GCC customers to disburse their savings . We very much look forward to launching a Visa prepaid product with Hakbah and are delighted at this latest opportunity to promote digital commerce and support the Financial Sector Development Programme ’ s efforts in achieving Saudi Vision 2030 goals for financial inclusion in the Kingdom of Saudi Arabia .” •

Naif AbuSaida , Founder of Hakbah

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