Riyad Bank Expands Business Payment Services with New Corporate Card Offering in Saudi Arabia

Riyad Bank has joined forces with Mastercard to roll out a new business-focused payment programme in Saudi Arabia, aimed at helping companies manage employee travel costs and operational spending more effectively. The launch represents Riyad Bank’s first dedicated corporate card initiative and deepens its collaboration with Mastercard in supporting enterprise financial solutions.

The newly introduced programme features two distinct card categories built to serve different levels of corporate decision makers. While one option focuses on the everyday financial activities of business professionals, the second is designed for executive-level users with broader travel and expense responsibilities.

Beyond standard payment functionality, the solution is intended to help organisations improve oversight of business spending through smarter reporting and simplified cost management. Companies using the programme will also benefit from travel-related incentives and digital tools that make it easier to organise, monitor, and reconcile employee expenses.

Supporting the offering is Mastercard’s expense management technology, a digital platform developed to help organisations track spending behaviour, improve internal controls, and strengthen financial planning. The system is expected to provide added support for businesses seeking greater transparency across travel and operational expenditures. This initiative reflects the increasing need for modern financial products that support a growing and globally connected business ecosystem. He added that the partnership seeks to strengthen how enterprises navigate mobility and financial operations.

The launch comes at a time when Saudi Arabia is seeing rapid growth in digital payments, cross-border business activity, and international travel. Data from the Saudi Central Bank points to rising adoption of electronic transactions, reflecting the Kingdom’s broader push toward a technology-enabled financial ecosystem under its long-term economic transformation agenda.