10 October 2016
Bank Albilad & CASHU to help diversify Saudi payment ecosystem; partnership to herald new era of electronic payment services

Riyadh – Bank Albilad, announced its strategic partnership with CASHU to develop innovative payment products and services for the Kingdom’s fast growing electronic payments market.

Bank Albilad will leverage CASHU’s payment technology, digital assets and wide vendor network to deliver new payment services to the Saudi market via a wide range of platforms, including advanced services; such as: prepaid mobile wallets, a regional bill presentment facility, NFC (Near Field Communication) coverage for retail transactions and more products tailored to fit the growing needs of the bank’s customers.

“Bank Albilad has grown rapidly, establishing one of the Kingdom’s largest financial services network by identifying current and future customer needs,” said Mr. Abdulaziz Al-Onaizan, CEO of Bank Albilad.“Through our partnership with CASHU, we look forward to providing our customers with the most advanced electronic payment services with the highest standard of security that our customers expect.”

Mr. Al-Onaizan emphasized that customers’ financial services have evolved. Customers are now looking for banks that provide the best financial services in terms of account management, remittance and payment.

“CASHU has been operating successfully in Saudi Arabia since 2003 and has become the preferred method of payment for online shoppers in the Kingdom,” said CASHU CEO, Thaer Suleiman. “Our new partnership with Bank Albilad will allow us to develop a variety of new and innovative payment solutions specifically for the Saudi market and further grow our customer base in the Kingdom. Working alongside Bank Albilad, CASHU also plans to introduce new mobile payment solutions for the domestic market, including NFC payments.”

“It is well known that Bank Abilad is a leader in the Saudi remittance services market through the bank’s remittance arm, Enjaz Banking Services,” said Suleiman. “For this reason, we are also in discussion with the bank about developing new value-added services for expats residing in the Kingdom.”

-Ends-

About CASHU
CASHU is a safe payment method designed to suit, serve & support online shoppers in all Arabic speaking and surrounding countries with secure, accessible and easy to use payment solutions, giving everyone the possibility to buy online without discriminating on income, nationality or banking contacts.

Over the years, CASHU has built a large network of credible top-up vendors spread in thousands of locations throughout MENA. This extensive network makes it easy to all online buyers to fund their CASHU accounts and buy online from thousands of merchants accepting CASHU as a payment option.

CASHU helps thousands of merchants around the globe grow their businesses and expand smoothly and securely in the MENA region offering their products and services to millions of buyers residing in this high growth region. CASHU’s payment platform has the most sophisticated, up to date fraud prevention and AML systems reducing the risks associated with online payments for both buyers and sellers which all allows for wider, safer and faster consumer participation in e-commerce.

For press inquiries, please contact:
Adel Elbendary  
Fourth Dimension Public Relations
14 Syria St., Mohandseen, Cairo, Egypt 
Tel: (+202) 3760 9988
Mobile : +20122 212 3462
Email : adel@fdpr.net

Tarek Lasheen
Fourth Dimension Public Relations
14 Syria St., Mohandseen, Cairo, Egypt
Tel: (+202) 3760 9988
Mobile : +20100 012 3255
Email : may@fdpr.net

© Press Release 2016