Collaboration enables digital remittances to over 160 countries, supporting Saudi Arabia’s financial innovation goals
TeleMoney, the international money transfer service of Arab National Bank (anb), has announced a strategic partnership with Mastercard to enhance its cross-border payments offering through Mastercard Move.
The partnership will enable TeleMoney customers to send money securely and efficiently to over 160 countries, aligning with Saudi Arabia’s Vision 2030 objectives to advance digital financial services and streamline international remittances.
By integrating Mastercard Move, TeleMoney aims to meet the growing consumer demand for fast and reliable global transfers while simplifying access to international payment solutions for individuals and businesses.
Adam Jones, Division President, West Arabia, Mastercard, said:
“With digital transformation showing no signs of slowing, the world is more connected than ever, linking people and businesses across borders. Our work with TeleMoney will enable consumers to move their money with the simple click of a button.”
Khalid Al Ibrahim, Head of TeleMoney, Arab National Bank, added:
“As more people across the Kingdom favour digital services for cross-border payments, we are committed to providing solutions that meet this demand. Our collaboration with Mastercard will allow customers to complete transactions promptly, securely and conveniently.”
Mastercard Move is designed to provide direct disbursers, banks, and non-bank financial institutions with a unified network for fast, transparent, and secure domestic and international money transfers.
The collaboration reinforces both companies’ commitment to advancing digital finance innovation in Saudi Arabia and improving financial accessibility for individuals and businesses engaged in global transactions.
