Step into the future “as we create an inclusive digital economy that works for everyone.” Adam Jones, Executive Vice President and Division President of West Arabia at Mastercard, begins the conversation with a declaration that signals the next evolution in digital payments across the Middle East. It’s a bold vision, one that’s already transforming economies from Saudi Arabia to Egypt, and beyond. Jones isn’t just talking about new technologies but about bringing economic opportunity and inclusion to every corner of the region. As he often says, it’s not just about business, it’s about impact.
Mastercard’s footprint in West Arabia, comprising Saudi Arabia, Bahrain, Iraq, Levant, and Egypt, is rapidly expanding, driven by a commitment to innovation and a mission to connect the unbanked and underserved to the digital economy. As Jones explains: “As a trusted technology partner, Mastercard is actively contributing to the advancement of digital transformation and financial inclusion efforts to benefit governments, businesses, and people.”
Expanding local payment capabilities
This mission is evident in the company’s launch of world-class technology infrastructure in Saudi Arabia that enables the processing of e-commerce transactions locally, providing a seamless and secure payments experience for both Mastercard partners and consumers. “We are proud to support the acceleration of the Kingdom’s digital commerce by establishing local processing capabilities,” Jones notes.
Under the patronage of the Saudi Central Bank (SAMA), the establishment of the local infrastructure within the Kingdom means efficient processing with reduced latency. As a single touchpoint, Mastercard Gateway powers payment and digital acceptance solutions across new and existing markets and channels, locally and globally, through hosted payment solutions, tokenisation, authentication, and advanced fraud detection solutions.
In 2023, Mastercard Gateway processed a staggering 950 million payments across all methods in Saudi Arabia, highlighting the company’s role in the growth of digital commerce within the market.
Another key milestone for Mastercard in Saudi Arabia has been the collaboration with SAMA and IBM, where they developed sarie, the Kingdom’s national real-time payments system. It’s a huge step in moving toward a cashless society, part of Mastercard’s broader strategy to weave digital infrastructure into the fabric of local economies.
But what does this mean on the ground? It means that Mastercard is not only digitising payment ecosystems but also empowering all segments, including SMEs, fintech companies, banks, merchants, and consumers, and enabling economic diversification. Jones is a firm believer in the power of public-private partnerships, which have been key in their success. “We take pride in adding value to local economies,” he says, and the results speak for themselves.
Revolutionising the gaming industry
Mastercard’s influence isn’t confined to traditional sectors – it’s breaking new ground in emerging industries like gaming, which Jones refers to as “the next frontier”. The company has become the first global sponsor of League of Legends, the largest esport in the world. Its commitment to innovation is also evident in the launch of the Mastercard Gamer Academy, a first-of-its-kind initiative designed to help gamers develop professional careers in esports. Notably, seven of the 10 participants in the programme are women, highlighting Mastercard’s dedication to fostering diversity and inclusion in an industry that has historically been male-dominated.
The gaming industry in Saudi Arabia is witnessing a remarkable transformation, and Mastercard is at the centre of this trend, tapping into a market that is projected to generate $6bn by 2027. With over 23.5 million gaming enthusiasts, the Kingdom has become a global player in esports, and Mastercard is perfectly positioned to lead the charge.
Through its long-standing partnership with Saudi Esports Federation, Mastercard has established itself as a key enabler of the kingdom’s rising gaming industry.
The company is the official sponsor of Gamers8, the world’s largest gaming and esports event, and the world’s first Esports World Cup, which showcase Saudi Arabia’s thriving gaming community. But Mastercard’s involvement goes beyond sponsorship; it’s about creating priceless experiences for gamers, connecting them to their passion in ways that blend both the digital and physical worlds.
“Esports brings people of different backgrounds and ages together through a common interest,” says Jones, highlighting the unifying power of gaming. Building on this vision, he adds: “We are leveraging our partnerships, network, and technologies to make in-game payments easier.”
This focus on gaming is strategic. As gaming continues to grow in the region, Mastercard is set to capitalise on new consumer segments, making digital payments seamless for gamers while simultaneously fostering a community that is both inclusive and forward-thinking.
AI, the future of payments
Jones is particularly excited about the potential of artificial intelligence (AI) to revolutionise the payments landscape. “AI is at the heart of transforming commerce,” he explains. Mastercard is using AI not just to enhance security but also to deliver personalised experiences for consumers and businesses alike.
“AI has a great ability to detect patterns, making it critical in fraud prevention,” says Jones. Mastercard already protects over 125 billion transactions annually through AI-driven solutions. But it doesn’t stop there. From real-time personalised offers to helping banks make better decisions for their customers, AI is reshaping the way payments are handled.
In Egypt, Mastercard is deploying AI as a tool to enhance digital banking experiences in collaboration with the National Bank of Egypt, introducing AI-powered digital employees to manage non-financial interactions. For Jones, the future of payments will be defined by the seamless integration of AI into every aspect of commerce.
Pioneering cross-border innovation
“Trust and partnership are key to what we do,” says Jones. “Mastercard Move, our portfolio of money movement capabilities, is empowering individuals and businesses by making cross-border payments simpler and more secure.”
Whether it’s through person-to-person transfers or business transactions, Mastercard is at the forefront of making cross-border payments more accessible and efficient, unlocking new opportunities for consumers and businesses alike. In Saudi Arabia, the company has signed an agreement with urpay, providing consumers with greater access to advanced cross-border payment solutions.
Driving financial inclusion
Mastercard’s global goal of connecting 1 billion people to the digital economy by 2025 is already being realised in West Arabia. A key example of this is the wage digitisation project in Egypt, which has benefitted over 24,000 garment workers since 2019, of which 43 per cent are women. Through this initiative, workers who previously relied on cash now receive their wages digitally, giving them greater financial security and access to services that were previously out of reach.
At the core of Mastercard’s financial inclusion efforts in West Arabia is its commitment to empowering small and medium-sized enterprises (SMEs), which form the backbone of many local economies. “Ultimately, we aim to empower every business with the digital tools, insights, and technology services they need to grow,” says Jones.
Whether it’s through contactless payment solutions or innovative credit programmes, Mastercard is creating pathways to economic success for businesses across the region. Jones emphasises that Mastercard’s role is not just to provide financial services but to create an environment where businesses can thrive.
Through innovative solutions like Tap on Phone, which transforms a mobile device into a payment-accepting terminal, Mastercard is enabling even the smallest businesses to participate in the digital economy. In Egypt, Mastercard’s partnership with MaxAB, a rapidly growing B2B marketplace, has provided 100,000 SMEs with digital payment solutions, helping them transition from cash-based systems to more secure, efficient digital payments.
“Getting SMEs access to capital is an important part of supporting this vital sector,” Jones explains. To this end, Mastercard has collaborated with the National Bank of Egypt to launch a micro-credit programme aimed at digitising supply chains and providing SMEs with the credit they need to grow. In Saudi Arabia, Mastercard has partnered with Saudi Awwal Bank to introduce a business credit card for SMEs, offering greater access to credit while enhancing visibility over transactions.
Mastercard’s support for SMEs goes hand-in-hand with its efforts to promote gender equality in the workforce. Through partnerships like the one with Women Choice, Mastercard is aiming to create 1 million jobs for women across the Middle East over the next five years. Initiatives like the Her Voice podcast series, which amplifies the stories of female entrepreneurs, are helping to inspire the next generation of business leaders in Saudi Arabia and Egypt.
A leader’s vision for the future
As Jones reflects on his journey with Mastercard, his leadership philosophy is simple yet profound – listen, adapt, and act. “It’s vital to be agile and collaborative,” he says. “As a leader, I aim to bring clarity and direction so that goals can be reached.” His focus is on building teams that are not just skilled but also diverse, capable of driving Mastercard’s vision forward.
Looking ahead, Jones is excited about the milestones Mastercard will achieve in the region over the next five years. As he puts it, “We will remain a trusted technology partner, helping governments, fintech companies, and financial institutions grow the digital economy through innovation, access, and infrastructure.”
By 2028, all Mastercard plastic payment cards will be made from recycled or bio-sourced plastics, part of the company’s broader sustainability commitments. In a world where commerce is constantly evolving, Jones believes that the future of payments will be defined by intelligent experiences, seamless exchanges of value, and a reimagining of money itself. For him, the ultimate goal is clear, “We are reshaping commerce and ushering in the next economy.”
As Jones closes out the conversation, one thing is certain: Mastercard’s
journey in West Arabia is just beginning, and under his leadership, the possibilities are endless.