Riyad Bank and Mastercard have launched a new Travel and Expense (T&E) Corporate Card program, marking Riyad Bank’s first corporate card offering in the Kingdom of Saudi Arabia.
The program introduces two new corporate card variants tailored to the needs of the Kingdom’s growing business community and aims to support enterprises in managing travel and expense operations more efficiently.
The collaboration builds on ongoing efforts between the two entities to enhance business travel solutions across Saudi Arabia, the Middle East and Africa region, and international markets.
The program offers a family of personalized corporate cards designed for middle management and senior leadership. It includes versatile corporate cards intended for everyday business requirements and executive cards targeted at senior management.
According to the companies, the program is designed to address the evolving payments needs of corporates and merchants in an increasingly digital economy.
The new offering includes features such as enhanced data capture, streamlined reconciliation processes and localized travel rewards. It is also supported by Mastercard’s web-based expense management platform, which provides tools to help businesses monitor spending and control costs more effectively.
Saud Swar SVP & GM KSA, Bahrain, Jordan & Other Levant Mastercard
“The Kingdom is firmly established as a cosmopolitan hub of regional and global players distinguished by their broad entrepreneurial outlook. We are very pleased to have teamed up with Riyad Bank to serve the travel and expense needs of enterprises operating in the Kingdom and beyond. Our new corporate card program will empower these businesses to realize their potential and contribute to the development of a world-class digital economy in the process.”
Mohammed Abo Al-Naja Chief Corporate Banking Officer, Riyad Bank, said that, “Serving as a trusted financial solutions partner to a global community of investors and entrepreneurs demands an unwavering focus on innovation. Our collaboration with Mastercard is built on this shared focus. Our new corporate card program was created with this in mind, equipping enterprises with two tailored offerings that improve the efficiency of their travel and expense operations.”
Data released by the Saudi Central Bank showed Saudi Arabia is progressing toward its target of achieving a 70 percent cashless transaction rate by 2030, with cashless payments accounting for 85 percent of total retail payments in 2025, compared with 79 percent in 2024.
The data also showed that more than 700 multinational companies have established regional headquarters in Saudi Arabia, surpassing the Kingdom’s original Vision 2030 target ahead of schedule. Meanwhile, spending by Saudi travelers abroad rose 7 percent to $29.43 billion (SAR110.4 billion) in 2025, compared with approximately $27.57 billion (SAR103.4 billion) in 2024.
The companies said the launch of Riyad Bank’s corporate card program is expected to support the Kingdom’s digital transformation efforts and strengthen its position as a regional business and travel hub.
