alrajhi bank Wins Visa Award for Best Cashback Card for SMEs and Micro-Enterprises

alrajhi bank has received an award from global payments company Visa in recognition of its launch of Saudi Arabia’s first Account Funding Transaction (AFT) service, in partnership with Visa. This milestone strengthens digital payment solutions and expands options for transferring funds to local bank accounts and digital wallets.

 

The service enables Visa cardholders whose cards are issued outside Saudi Arabia to transfer funds directly to local digital wallets, Saudi bank accounts, and licensed investment platforms, in accordance with applicable regulatory frameworks. It offers fast processing, enhanced security, and transaction tracking capabilities.

 

Hussein Bayari, General Manager of Corporate Banking Group at alrajhi bank, said: “Being the first bank in Saudi Arabia to launch this innovative service is more than a technological achievement; it reflects our unwavering commitment to developing customer-centric solutions that put customer needs at the heart of everything we do. We are not simply providing a way to fund accounts; we are building a seamless and secure digital bridge connecting international investors and users with the Saudi economy. This milestone is a key pillar of our strategy to support the Kingdom’s ambitious digital aspirations and reinforce our position as a leading financial partner driving transformation across the banking landscape and advancing financial inclusion.”

 

This recognition further strengthens the strategic partnership between alrajhi bank and Visa and aligns with the bank’s Integrated Banking strategy, which focuses on delivering financial solutions that support the digital transformation of the Kingdom’s payments sector.