Riyad Bank and Mastercard introduced a corporate card program on May 17, 2026, marking the bank’s first corporate card offering in Saudi Arabia. The program provides two corporate card variants designed to address the travel and expense management needs of enterprises operating in the Kingdom.
The corporate card program includes two card types tailored for different organizational levels. The versatile cards serve middle management and everyday business requirements, while executive cards target senior leadership. Both variants integrate with Mastercard’s web-based expense management system, which provides digital tools for cost monitoring and spending analysis.
The program delivers several functional benefits to cardholders. Features include enhanced data capture for transaction tracking, streamlined reconciliation processes, and localized travel rewards. The expense management system offers a complete end-to-end payments and expense solution for enterprises managing business travel across multiple regions.
Market Context and Business Growth
Saudi Arabia is advancing toward its digital payments targets. Data from the Saudi Central Bank (SAMA) indicates the Kingdom reached 85% of total retail payments through non-cash transactions in 2025, up from 79% in 2024. The nation aims to achieve a 70% cashless transaction rate by 2030.
The corporate card program responds to growing business activity in the Kingdom. More than 700 multinational companies have established regional headquarters in Saudi Arabia, exceeding the original Vision 2030 target ahead of schedule. Spending by Saudi travelers abroad increased 7% to reach SAR 110.4 billion in 2025, compared to approximately SAR 103.4 billion in 2024.
Executive Statements on the Partnership
“The Kingdom is firmly established as a cosmopolitan hub of regional and global players. We are pleased to have teamed up with Riyad Bank to serve the travel and expense needs of enterprises operating in the Kingdom and beyond.”
Saud Swar, Country Manager – Saudi Arabia, Bahrain, Jordan and other Levant, Mastercard
“Our collaboration with Mastercard is built on a shared focus on innovation. 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.”
Mohammed Abo Al-Naja, Chief Corporate Banking Officer, Riyad Bank
Digital Economy Development
The corporate card program supports the Kingdom’s broader digital transformation agenda. As enterprises increasingly adopt secure digital payment solutions, business travel management tools become essential infrastructure for regional expansion. The program’s integration with centralized expense tracking aligns with Saudi Arabia’s positioning as a travel and business hub in the Middle East and Africa region.
The collaboration reflects Riyad Bank’s commitment to serving multinational businesses and local enterprises alike. The program’s design accommodates both operational needs and compliance requirements for organizations managing cross-border transactions and complex expense structures.
