American Express Saudi Arabia

What American Express Saudi Arabia does

American Express Saudi Arabia (AESA) is a closed joint stock company established in 1999 and headquartered in Riyadh, operating under Saudi Central Bank (SAMA) Finance Company License No. 201512. It is a 50/50 joint venture between American Express (Middle East) BSC — providing global brand, products, and operational infrastructure — and The Saudi Investment Bank — providing local market expertise, branch distribution, and ATM access. The company issues a full-stack payment card portfolio in Saudi Arabia spanning personal credit cards (Blue, Gold, Platinum), charge cards (Green, Gold, Platinum), co-branded cards with Saudia's Alfursan frequent flyer program and with Marriott Bonvoy (the first hospitality co-branded card in the Kingdom, launched November 2022), business credit cards, corporate cards, the vPayment virtual payment platform, Corporate Travel Account settlement, and Working Capital Solutions.

Its technology stack rests on the parent's global payment and processing infrastructure, extended locally through the Amex KSA mobile app (iOS/Android with biometric login), a corporate online services portal, automated credit decisioning, SIMAH and Bayan credit bureau integrations, SafeKey 3D-Secure authentication, Open Banking account aggregation, and a Membership Rewards loyalty platform integrated with Priority Pass, Marriott Bonvoy, 40+ airline/hotel transfer partners, and the Ehsan charitable donation platform (integrated April 2023). The business earns revenue across five streams: recurring annual card membership fees (e.g., USD 230 for Marriott Bonvoy, inclusive of VAT), transaction/interchange fees via merchant acquiring, interest income on revolving credit balances (purchase profit rate of 2.75% monthly / 41.14% APR under Tawarrux), foreign exchange fees, and revenue-share from co-branded card partnerships. Distribution combines direct digital acquisition (americanexpress.com.sa and the Amex KSA app), a dedicated corporate sales force, partner-bank channels (Al Rajhi Bank POS — largest in Saudi Arabia; Bank AlJazira ATMs — 600+ added February 2023; Saudi Investment Bank; SAB), business-association partnerships (Riyadh Chamber, AmChamKSA), and merchant-acquiring partnerships. The customer base comprises Saudi-resident mass-affluent consumers, SMEs, and large corporates within Saudi Arabia only.

Certifications include ISO/IEC 27001:2022, PCI DSS 4.0.1, and PDPL-aligned cross-border data handling. The board is chaired by HRH Prince Ahmed bin Khalid bin Abdullah Al Saud; the CEO since October 2022 is Fahad bin Mubarak Al Guthami. Cardmembers currently access over 3,500 ATMs across the Kingdom, more than 1,200 airport lounges globally via Priority Pass, and over 8,100 Marriott properties for points redemption.

Name

American Express Saudi Arabia

Legal name

American Express Saudi Arabia, closed joint stock company

Website

https://americanexpress.com.sa

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

American Express Saudi Arabia is a SAMA-licensed Riyadh-based closed joint stock company — a JV between Amex Middle East and Saudi Investment Bank — issuing consumer, SME, and corporate payment cards in Saudi Arabia via direct digital channels and partner bank distribution, with Marriott Bonvoy and AlFursan co-branded products.

Ownership category

akta.pro rank

Product category

Payment Card Services

NAICS

Credit Card Issuing (522210), Credit Card Issuing (52221), Sales Financing (52222)

SIC

Personal Credit Institutions (6141), Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

General-Purpose Credit Card Schemes (FSAMAAAA)

akta.pro secondary industries

Business / Corporate Credit Cards (FSAKABAF), Co-Branded Credit Card Partnerships (Issuers/Networks) (THABAKAD), Corporate Billing, Statements, Chargeback & Dispute Management (THACAJAJ), Fraud Prevention, Controls & Compliance (MCC controls, AML/KYC, SCA) (THACAJAG)

Keywords

• Payment card services
• Credit card issuing
• Corporate payment solutions
• Merchant acquiring
• Loyalty rewards programs

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Card Fees (Annual/Renewal Fees): American Express Saudi Arabia charges annual fees on its credit cards (Blue, Gold, Platinum, Marriott Bonvoy) and charge cards (Green, Gold, Platinum). For example, the Marriott Bonvoy American Express Credit Card has an annual fee of USD 230 including VAT. These fees represent a recurring revenue stream from card membership.
2. Transaction/Interchange Fees: American Express earns interchange fees on every transaction made with its cards. Merchants accepting American Express cards pay a transaction fee, contributing to revenue. The company has expanded its merchant acceptance network through partnerships with Al Rajhi Bank (largest POS network in the Kingdom) and Bank AlJazira.
3. Interest Income on Credit: American Express Saudi Arabia earns interest income on revolving credit balances carried by cardmembers. Purchase rates apply at a profit rate of 2.75% per month (Tawarruq), with APR of 41.14% for purchases and 0% for cash advances. Minimum payment is the greater of 5% of outstanding balance or SAR 100 (for SAR cards) or USD 50 (for USD cards).
4. Foreign Exchange Fees: The company charges foreign exchange fees on transactions made in currencies other than the card's billing currency. The Marriott Bonvoy American Express Credit Card offers 0% foreign exchange fee when spending in Saudi Riyals.
5. Co-branded Card Partnerships: Revenue from co-branded card partnerships including Alfursan (airline) and Marriott Bonvoy (hospitality), where the company shares interchange and fee revenue with partners in exchange for loyalty program integration and customer acquisition.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels10 records

Core offering

American Express Saudi Arabia issues personal credit and charge cards (Platinum, Gold, Green, Blue, plus co-branded Alfursan and Marriott Bonvoy cards), business credit cards, corporate cards, and corporate payment solutions (vPayment virtual payments and Corporate Travel Accounts). It earns revenue through card membership fees, interchange on transactions, interest on revolving credit balances, and co-branded partnership arrangements. The company is regulated by the Saudi Central Bank (SAMA) as a finance company.

Product overview

American Express Saudi Arabia operates as a closed joint stock company offering a comprehensive portfolio of payment products and services in Saudi Arabia. The product portfolio spans personal credit cards (Blue, Gold, Platinum), charge cards (Green, Gold, Platinum), and co-branded cards (Alfursan, Marriott Bonvoy). For business and corporate clients, the company provides Corporate Cards, Business Credit Cards, vPayment virtual payment solutions, Corporate Travel Accounts, and Working Capital Solutions. These are complemented by the Membership Rewards loyalty program, AMEX Offers discount program, the Amex KSA mobile app, Plan It installment feature, SafeKey authentication, and Priority Pass airport lounge access. The company is a joint venture equally owned by Amex (Middle East) BSC and The Saudi Investment Bank, regulated by Saudi Central Bank (SAMA) as a finance company.

Differentiator

Problem solved

Functional benefit

Brands

• Membership Rewards: American Express's loyalty program allowing card members to earn and redeem points for various rewards including travel, shopping, gift cards, and charitable donations.
• AMEX Offers
• Plan It
• AlFursan Credit Card
• Marriott Bonvoy Credit Card

Products and services

• The Platinum Card
• The Gold Card
• AlFursan American Express Credit Card
• Marriott Bonvoy American Express Credit Card
• The American Express Business Credit Card
• The American Express Corporate Card
• American Express Corporate Travel Account (CTA)
• vPayment
• Working Capital Solutions
• SAIB American Express Corporate Card
• SAB American Express Corporate Card
• Membership Rewards Program
• AMEX Offers
• Amex Saudi Arabia Mobile App

Quantifiable outcome

• Over 3,500 ATMs accessible across Saudi Arabia
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability1 record

Feature7 records

Partnerships

Nine partnerships are on record, tiered strategic, minor, core and flagship.

• Riyadh Chamber of CommercestrategicGTM or Marketing Partner · 16 May 2023A partnership agreement providing Riyadh Chamber members with exclusive card fee offers and rewards on The Platinum Card and Business Credit Card. The agreement aims to grow the premium customer base and provide tailored services to the Kingdom's business community, including optimal spending control and business growth tools.
• Ehsan Platform (Saudi Data and Artificial Intelligence Authority - SDAIA)strategicTechnology or Integration · 6 April 2023The Ehsan Platform, developed by SDAIA, was added to the Membership Rewards catalog under the donation section, allowing cardmembers to instantly convert Membership Rewards points into charitable donations. Since its launch in 2021, the platform has received SAR 2.945 billion in donations, recorded over 51 million transactions, and served 4.8 million beneficiaries. This partnership enhances the social impact of the rewards program.
• American Chamber of Commerce in Saudi Arabia (AmChamKSA)minorGTM or Marketing Partner · 6 March 2023A partnership agreement to co-host golf tournaments and initiatives in Saudi Arabia to encourage greater participation in golf. The partnership, coinciding with AmChamKSA's 28th anniversary and building on a relationship spanning more than a decade, supports community engagement and brand visibility among the business community.
• Bank AlJaziracoreStrategic or Co-development Partner · 28 February 2023A partnership agreement adding over 600 Bank AlJazira ATMs to the American Express Saudi Arabia network, expanding cardmember access to cash withdrawal services across the Kingdom. As of February 2023, this brought the total accessible ATMs to over 3,500. The partnership aligns with Vision 2030 objectives for sustainable financial services growth.
• Marriott Bonvoy (Marriott International)flagshipStrategic or Co-development Partner · 2 November 2022American Express Saudi Arabia and Marriott Bonvoy launched the Marriott Bonvoy American Express Credit Card — the first hospitality credit card in Saudi Arabia. Cardmembers earn Marriott Bonvoy points on everyday spending (5 points per USD 1 at Marriott properties, 3 internationally, 2 in Saudi Arabia), enjoy complimentary Silver Elite status (upgradeable to Gold), access over 8,100 hotels globally, and benefit from 0% foreign exchange fees when spending in SAR. The partnership is a flagship co-branding arrangement driving both card issuance and loyalty engagement.
• Al Rajhi BankcoreChannel Partner/ Reseller/ Distributor · 25 August 2022A joint cooperation agreement enabling American Express cardmembers to make purchases at Al Rajhi Bank's POS (point of sale) network, the largest in Saudi Arabia. The partnership allows small and medium businesses to accept American Express cards when activated by the merchant, expanding acceptance locations across thousands of new merchant locations. Aligned with Vision 2030's Financial Sector Development Program to increase cashless transactions.
• Alfursan (Saudia - Saudi Arabian Airlines)strategicStrategic or Co-development PartnerThe Alfursan American Express Credit Card is a co-branded airline credit card enabling cardmembers to earn Alfursan loyalty miles on everyday spending, redeemable on Saudia flights and partner airlines. This is one of the company's co-branded card products alongside Marriott Bonvoy.
• SAB (Saudi Awwal Bank)strategicChannel Partner/ Reseller/ DistributorSAB offers SAB American Express Corporate Cards, SAB American Express Business Credit Cards, SAB American Express Corporate Travel Accounts, and SAB vPayment exclusively for SAB customers, expanding the corporate payment solutions distribution through SAB's customer base.
• Priority PasscoreStrategic or Co-development PartnerPriority Pass provides American Express Saudi Arabia cardmembers with complimentary or discounted access to over 1,200 airport lounges globally, integrated into Platinum and Marriott Bonvoy cards as a premium travel benefit.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• American Express (Global): Global parent and brand licensor of AESA through Amex (Middle East) BSC. Operates the global Amex network, sets product standards, and competes in other GCC markets through its own subsidiaries.
• Visa / mada Network Operators: Saudi mada domestic scheme and global Visa network operating the dominant payment rails in Saudi Arabia. Set the merchant discount rate and acceptance economics against which AESA's closed-loop network must compete.

Direct peers

• Al Rajhi Bank: Saudi Arabia's largest bank by assets and the dominant issuer of personal and corporate credit cards. Directly competes with AESA across the mass-affluent and SME segments, while simultaneously serving as a key distribution partner for Amex acceptance via its POS network.
• Bank AlJazira: Saudi bank issuing personal and business credit cards and an AESA ATM-access partner. Comparable consumer card products with rewards and travel benefits for the mass-affluent segment.
• Saudi National Bank (SNB): Formed from the merger of NCB and Samba, SNB is one of Saudi Arabia's largest card issuers across consumer, business and corporate segments. Competes head-to-head with AESA for premium cardholders and corporate accounts.
• Riyad Bank: Major Saudi commercial bank issuing personal, business and corporate credit cards with its own rewards program. Targets similar mass-affluent and SME segments and competes for premium card share in the Kingdom.
• HSBC Saudi Arabia: International bank with a Saudi franchise offering premium Visa/Mastercard credit cards and corporate cards. Competes for the same mass-affluent and corporate Saudi customers that AESA targets with its Platinum and Corporate products.
• Saudi Awwal Bank (SAB): Corporate and business banking specialist issuing SAB-branded American Express corporate cards in partnership with AESA, plus its own competing card products. Overlapping corporate payments franchise makes it a direct competitive peer.
• Saudi Investment Bank (SAIB): JV parent and exclusive distributor of SAIB American Express Corporate Cards, while also running its own card issuance business. A direct comparable in Saudi card issuing plus a structurally intertwined counterparty.

Emerging players

• STC Bank (previously STC Pay): Digital-first Saudi neobank offering mada-network digital wallets and consumer credit products. Represents the emerging digital-payments competition AESA faces, particularly among younger, app-native consumers.

Market position

Strengths4 records

Weaknesses2 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/AmexKsa
• Facebookfacebook.com/AmericanExpressKSA
• LinkedInlinkedin.com/company/american-express-business-saudi-arabia
• Instagraminstagram.com/amexksa?utm_source=ig_profile_share&igshid=15kcwzwwopd78

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about American Express Saudi Arabia