Hala, one of the leading fintech players in Saudi Arabia has entered into a strategic partnership with Visa, the world’s leader in digital payments. The partnership will enable Hala to provide issuance of Visa cards to its users, benefitting consumers, entrepreneurs and SMEs across Saudi Arabia. This move will effectively allow Hala customers to access the more than 61 million merchants on Visa’s global acceptance network.
As part of this partnership, both parties will also collaborate on developing innovative digital payment solutions to cater to the needs of Hala’s growing customer base. Hala will be able to access Visa’s world-class expertise in international payments, customer loyalty, fraud and risk management and data and analytics.
“We are very proud to be partners with Visa and we strongly believe that this partnership is core for us to serve our current customer base in Saudi Arabia and to achieve our vision of becoming a global challenger bank”, Esam Alnahdi, Hala’s CEO commented on the partnership.
“Recognizing the rapid pace of technology innovation globally and locally here in Saudi Arabia, we are seeing a powerful shift in business and consumer expectations in finance,” said Ali Bailoun, Visa’s General Manager for Saudi Arabia. “Whether it is changing the way people invest, manage money, receive loans, or send real-time payments to friends and family, Visa is a natural partner for fintechs such as Hala in providing them with new ways to reach their customers through Visa’s vast network and global scale.”