Home / / Hakbah to issue Visa prepaid cards to savings groups

Hakbah to issue Visa prepaid cards to savings groups

Partnership will enable Hakbah to issue Visa prepaid cards to customers in Saudi Arabia and GCC

Hakbah to issue Visa prepaid cards to savings groups
Naif AbuSAida.

Hakbah, an alternative financial saving platform based in Saudi Arabia’s Riyadh, has signed a multi-year strategic partnership agreement with Visa to issue Visa prepaid cards to its customers in Saudi Arabia and GCC.  

Hakbah is offering a comprehensive one-stop-shop solution for savings groups to initiate, manage, join, and pay directly within the mobile app. The solution offers customers a convenient and simple method for Savings Groups' habit.

“We are proud to partner with Visa, and we envision this will enable Hakbah and Visa to work closely in accelerating secure and convenient payment and alternative financial saving solutions. The partnership could not have come at a better time considering the growth opportunities in Saudi Arabia – estimated at $6bn annually - for digitalising payments, increasing capitalisation of savings and for better savings solutions for the underbanked. This partnership is also in line with Vision 2030 and will reflect positively on achieving the UN Sustainable Development Goals and Saudi Financial Sector Program,” said Naif AbuSaida, founder of Hakbah.

Follow us to get the most comprehensive IT business news delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.