American Express Saudi Arabia announced the signing of a joint cooperation agreement with Al Rajhi Bank that allows American Express Card Members to purchase goods and services at merchants included in Al Rajhi Bank’s network which is the largest in the Kingdom.
This strategic partnership will allow American Express Card Members (consumers, small and medium businesses) to use their Cards at thousands of new locations. Al Rajhi Bank’s merchants will also have access to more loyal, higher spending customers once they have activated it.
Mr. Waleed bin Abdullah Al-Mogbel, Chief Executive Officer of Al Rajhi Bank, affirmed “this partnership reflects the willingness of both parties to meet the needs of their customers”, pointing to how the bank is considered “a pioneer in consistently providing solutions that streamline the payment experiences, which is in line with the Kingdom’s 2030 vision and will reflect on the improvement of the financial sector.”
Mr. Fahad bin Mubarak Al Guthami, Deputy Chief Executive Officer at American Express Saudi Arabia, commented that “we are pleased to announced our partnership with Al Rajhi Bank as it expands our presence in the Kingdom, providing Card Members with more locations than ever to use their Cards across Saudi Arabia.”
He added “this partnership comes in line with the Kingdom’s Vision, which aims, through the Financial Sector Development Program, to raise the proportion of cashless transactions and improve the payment experience of our Card Members. We are proud of our partnership with Saudi banks and they are part of our strategic goals to significantly increase the places of point of sales and provide the best service to our customers.”