Mastercard (MA), Loop to Simplify Payments in Saudi Arabia

Mastercard Incorporated (MA) recently collaborated with the Saudi Arabia-based digital payments technology company, Loop, in a bid to introduce a set of credit card offerings and payment solutions across the Kingdom. To this effect, the partners even inked an exclusive issuing deal. Its shares gained 0.4% on Mar 1.As part of the partnership, the well-established technology and expertise of Mastercard will be put to use for issuing Bank Identification Number (“BIN”) ranges. A BIN is used to determine the iss ...