The Saudi British Bank (SABB) has partnered with Saudi Payments & Visa to launch SABB Procurement Card, designed specifically for its Corporate and Business clients to manage everyday payments digitally. This is part of the bank's ongoing efforts to provide banking products and services that meet the highest standards for all customers.

Newly introduced Procurement Card enables Corporates and Businesses to optimally manage payments in a smarter and safer way; saving cost, reducing cash handling risks and monitoring spends around the clock.

 "As a leading financial institution, we are committed to playing our role towards strengthening the financial sector and helping corporations of all sizes in order to drive sustainable economic growth in line with the Kingdom's Vision 2030. Launch of this co-badged mada-Visa card is part of our strategic plans to continuously improve customer experience by meeting their needs through innovative solutions keeping up the pace with the digital transformation in the Kingdom," Yasser Al-Barrak, Chief Corporate & Institutional Banking Officer at SABB, commented.

Abdulaziz Abanmi, Chief Operating Officer at Saudi Payments, commented: “As the national foundation for digital payments, we constantly seek with our local and global partners to enrich the local market in Saudi Arabia with innovative financial services that align with the Kingdom’s vision and the goals of the Financial Sector Development Program in terms of growth of payments digitalization. The paved infrastructure in the kingdom and the countrywide acceptance of mada scheme should provide the holders of such special-purpose cards with a seamless payment experience to fulfil their financial requirements.”

Ali Bailoun, Visa’s Regional General Manager for GCC Cluster - Kingdom of Saudi Arabia, Bahrain and Oman, said: “Innovation in payments is essential to supporting the growth of businesses and leveraging payment opportunities that the pandemic presented. We are delighted to work with SABB in bringing Visa’s solutions to the bank’s corporate customers.  Our Visa corporate solutions are an attractive proposition for businesses looking to reduce cost and streamline expense reporting both easily and securely. We will continue to work closely with our partners to support local businesses in their digital transformation and the government’s efforts to promote digital commerce.”

SABB focuses on offering the best financial solutions to provide a pioneering banking experience, as well as utilizing the latest advanced technologies, which is positively reflected in the development of the financial sector and the support of sustainable economic growth.

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About Saudi British Bank (SABB):

Saudi British Bank (SABB) is a licensed financial institution operating under supervision and control of the Saudi Central Bank. SABB was established in 1978G as a Saudi joint stock company. SABB is having a strategic partnership with the HSBC Group.

SABB offers integrated financial and banking services including personal banking, corporate banking, private banking as well as investment and treasury services. SABB paid-up capital is SAR 20.5 billion.

About Saudi Payments:

Saudi Payments is the national foundation of digital payments and the developer and operator of the national payment infrastructure in the Kingdom of Saudi Arabia with the aim to accelerate the transition to a society less dependent on cash, in line with the Saudi Central Bank´s strategy and the aspirations of the Financial Sector Development Program (FSDP) towards achieving the goals of Saudi Vision 2030. The entity operates under the supervision of the Saudi Central Bank (SAMA), offering secure and interoperable digital payment solutions.