Enjaz
“Can a bank-backed Saudi remittance specialist expand into full-stack digital payments — including card issuing — to capture a larger share of the Kingdom's growing fintech opportunity?”
HQSaudi Arabia
IndustryFintech / Cross-border payments
The story
Enjaz began as the remittance arm of Bank Albilad, focused on physical branch-based international money transfers. The company subsequently digitized its offering through the Enjaz mobile app, partnering with Nium to provide competitive FX rates and instant transfers globally. Most recently, in 2025, Enjaz expanded beyond pure remittance into card issuing by signing an MoU with Paymentology, signalling a broader ambition to become a comprehensive digital payments provider in Saudi Arabia.
Product timeline
2025
Entered MoU with Paymentology to integrate next-generation card issuing and processing (prepaid, debit, virtual cards) on Oracle Cloud Infrastructure.· card
Regulated entities
1
regulatory licence held by Enjaz
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Enjaz’s embedded-finance stack
Card issuing
Unified APIs
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting gap: none
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.