Beyond Payments: Mastercard’s Adam Jones on Saudi Arabia’s Digital Future, AI, and the Next Phase of Vision 2030

As Saudi Arabia moves deeper into the execution phase of Vision 2030, the Kingdom’s digital economy is entering a new chapter, with innovation, financial inclusion, and technological advancement reshaping the way businesses and consumers interact with financial services.

In an exclusive interview with Entrepreneur Middle East, Adam Jones, Executive Vice President and Division President, West Arabia at Mastercard, discusses the transformation underway across Saudi Arabia’s financial landscape, Mastercard’s evolving role as a global technology company, and the opportunities emerging across the Kingdom’s rapidly expanding digital ecosystem.

For Jones, the evolution of digital payments is an important part of Saudi Arabia’s broader economic transformation. As consumers increasingly embrace digital transactions and businesses adopt more sophisticated financial technologies, the Kingdom is creating new opportunities for innovation across multiple industries.

Mastercard’s role in this transformation extends far beyond traditional payment processing. The company is increasingly positioning itself as a technology partner, working with businesses and institutions to develop digital solutions that support economic growth, improve payment experiences, and strengthen the wider financial ecosystem.

A key part of this strategy involves expanding partnerships across sectors including tourism, aviation, fintech, and small and medium-sized enterprises (SMEs). As Saudi Arabia continues to diversify its economy, these industries are creating new opportunities for digital financial services that support business growth and improve customer experiences.

For SMEs in particular, access to innovative financial technologies can play an important role in improving operational efficiency, expanding market reach, and enabling businesses to participate more effectively in the digital economy.

Artificial intelligence is another area shaping the future of financial services. Jones highlights the growing role of AI in helping businesses improve operational efficiency, strengthen security, and deliver more personalised financial experiences.

However, as financial technology becomes increasingly sophisticated, cybersecurity remains a critical priority.

Mastercard’s Cybersecurity Center of Excellence in Riyadh reflects the company’s focus on strengthening digital resilience and supporting the development of cybersecurity capabilities in the Kingdom. As more financial transactions and business operations move online, protecting digital infrastructure and maintaining consumer trust are becoming increasingly important.

While artificial intelligence and automation continue to reshape the industry, Jones also emphasises the importance of human judgment. Technology can support faster decision-making and more intelligent financial services, but human expertise remains essential in navigating complex challenges, maintaining trust, and ensuring that innovation delivers meaningful value.

As Saudi Arabia advances its Vision 2030 ambitions, the convergence of digital payments, AI, cybersecurity, and cross-industry collaboration is creating new opportunities for businesses and entrepreneurs.

For Mastercard, the next phase of growth is about more than enabling transactions. It is about supporting the technologies, partnerships, and digital infrastructure that will help shape Saudi Arabia’s financial future.