alrajhi bank and ZID Company signs Strategic Partnership Agreement

alrajhi bank has announced that its "mokafaa" loyalty program has entered into a strategic partnership with Zid Holding Company, enabling Zid's e-commerce stores to leverage the services of alrajhi bank’s "mokafaa" loyalty program.

The agreement also allows alrajhi bank customers to utilize the "Tasahil" program to pay for purchases in installments through Zid's "Mazeed Platform," with repayment periods ranging from 3 to 6 months. Additionally, customers of the "mokafaa" loyalty program will have access to services from over 12,000 Zid merchants, including the ability to create independent online stores and engage in e-commerce.

Commenting on the partnership, Mr. Abdullah Al-jabr, Chief of Marketing and Customer Experience at alrajhi bank, said, "We are delighted to sign this strategic partnership with Zid, a leader in the e-commerce sector. This collaboration will enhance our customers' experience in e-commerce and facilitate their decision-making in digital commerce."

Mr. Sultan Al-Asimi, CEO of Zid Holding, also expressed his enthusiasm, stating, "Our partnership with alrajhi bank brings together the strengths of two trusted brands in the Saudi market. By integrating alrajhi bank’s mokafaa loyalty program with the Zid platform, we aim to elevate the digital shopping experience and support merchants on our platform."

Al-Asimi added, "Beyond technological integration, this partnership aligns with one of our key goals: to support and empower the digital economy in the Kingdom of Saudi Arabia." The "mokafaa" program, serving over 15 million customers, is the largest loyalty program in the Saudi banking sector by the total value of rewards provided. The program currently includes over 250 partner brands across the Kingdom, allowing customers to use "Reward" points as a form of payment.