Saudi fintech barq and Mastercard are exploring new opportunities in payments and digital financial services, according to a LinkedIn post from barq.
The companies made the announcement during Money20/20 Middle East 2026 in Riyadh, where they are both strategic sponsors. The expanded collaboration builds on a partnership that began in September 2024, when barq adopted Mastercard Gateway to provide payment acceptance solutions for merchants and consumers.
The companies said they will combine barq’s digital capabilities with Mastercard’s global payments expertise to develop more flexible and efficient solutions, improve user experience and address the evolving needs of individuals and businesses.
Founded by Ahmed Alenazi and licensed by the Saudi Central Bank in January 2024, barq has issued more than 6.5 million digital payment cards and processed over 500 million transactions since launching in July 2024. Its total transaction volume has reached SAR 73 billion.
At Money20/20 Middle East, barq also received three Visa awards, including recognition as the fastest-growing fintech company across Central and Eastern Europe, the Middle East and Africa. The company’s wider partner network includes Thunes, TerraPay, iPiD and Alipay+.
Source: Fintech News UAE
