Bank Albilad has formed a strategic partnership with CashU to develop innovative payment products and services for Saudi Arabia’s fast growing electronic payments market.
The local bank will leverage CashU’s payment technology, digital assets and wide vendor network to deliver new payment services to the Saudi market via a wide range of platforms, including advanced services; such as: prepaid mobile wallets, a regional bill presentment facility, NFC (Near Field Communication) coverage for retail transactions and more products tailored to fit the growing needs of the bank’s customers.
Abdulaziz Al-Onaizan, CEO of Bank Albilad, said: “Through our partnership with CashU, we look forward to providing our customers with the most advanced electronic payment services with the highest standard of security that our customers expect.”
Mr. Al-Onaizan emphasized that customers’ financial services have evolved. Customers are now looking for banks that provide the best financial services in terms of account management, remittance and payment.
“CashU has been operating successfully in Saudi Arabia since 2003 and has become the preferred method of payment for online shoppers in the Kingdom,” said CashU CEO, Thaer Suleiman. “Our new partnership with Bank Albilad will allow us to develop a variety of new and innovative payment solutions specifically for the Saudi market and further grow our customer base in the Kingdom. Working alongside Bank Albilad, CashU also plans to introduce new mobile payment solutions for the domestic market, including NFC payments.”