Riyad Bank Mastercard Launch Saudi Corporate Card Program
Riyad Bank and Mastercard have introduced a new Travel and Expense Corporate Card program in Saudi Arabia. The launch marks Riyad Bank’s first corporate card offering in the Kingdom and targets the expanding needs of the local business sector.
The initiative introduces two corporate card variants designed to help enterprises manage travel and operational expenses more efficiently. In addition, the collaboration strengthens ongoing efforts to expand business payment solutions across Saudi Arabia, the Middle East, and Africa, and international markets.
New Corporate Cards Target Business Operations
The program includes a family of corporate cards tailored for middle management and senior executives. Companies can therefore use the cards for both everyday operational spending and executive-level business requirements.
Furthermore, the platform offers enhanced data capture and simplified reconciliation tools. Businesses also gain access to localized travel rewards and digital expense management capabilities.
Mastercard’s web-based expense management platform supports the program with spending controls and monitoring tools. As a result, enterprises can improve visibility across travel and expense operations while reducing administrative complexity.
Saudi Arabia Accelerates Cashless Transformation
The launch aligns with Saudi Arabia’s broader push toward digital payments and financial modernization. Data from the Saudi Central Bank showed that cashless payments accounted for 85 percent of total retail transactions in 2025, compared with 79 percent in 2024.
At the same time, the Kingdom surpassed its original Vision 2030 target for attracting multinational regional headquarters. More than 700 multinational companies have now established regional bases in Saudi Arabia.
Meanwhile, spending by Saudi travelers abroad increased 7 percent in 2025 and reached SAR110.4 billion. Consequently, demand for modern corporate payment and expense management tools continues to rise across the business sector.
Digital Payment Demand Continues to Grow
The new corporate card program supports Saudi Arabia’s wider digital transformation strategy and reinforces the country’s position as a regional business and travel hub. Moreover, enterprises increasingly require integrated financial tools that simplify expense management across local and international operations.
The partnership also reflects growing demand for secure digital payment infrastructure as businesses adopt more data-driven financial systems.
