HyperPay, a major player in the field of payment gateways in the Middle East and North Africa, has recently made a significant step forward by obtaining a digital payment license awarded by the Saudi Central Bank. With this license, HyperPay is now authorized to offer electronic payment services via an e-wallet in Saudi Arabia. This achievement aims to transform society by encouraging the use of modern payment solutions and reducing reliance on cash, while aligning its goals with the Vision 2030 of Saudi Arabia that advocates financial system efficiency and digital transformation. This development also reflects HyperPay’s commitment to financial innovation and economic growth in the region.
HyperPay and Digital Transformation in Saudi Arabia
HyperPay, a payment gateway operating in the Middle East and North Africa, has obtained a digital payment license from the Saudi Central Bank (SAMA). With this new license, HyperPay is now authorized to operate digital payment services via an e-wallet in Saudi Arabia.
The main objective is to support the transition to a society less dependent on cash by launching a range of payment solutions and financial services. This development also aims to strengthen the diversification and evolution of the economic and financial sector of the Kingdom.
Muhannad Ebwini, founder and CEO of HyperPay, emphasized that this license reflects the company’s ongoing efforts to expand its operations and offer more extensive services. He specified that, thanks to this advancement, businesses can benefit from secure and seamless payment services, aligned with Saudi Arabia’s Vision 2030 to improve the efficiency of the financial system and encourage digital transformation.
This initiative is part of SAMA’s strategy to support the fintech sector by encouraging innovation and enhancing the experience of financial transactions, while increasing financial inclusion for various segments of society.
HyperPay’s Breakthrough in the Saudi Financial Sector
HyperPay, a leader in fintech operating in the MENA region, recently secured a valuable license from the Saudi Central Bank (SAMA). This license now allows the company to operate digital payment services via an e-wallet in Saudi Arabia. With this advancement, HyperPay positions itself at the heart of the country’s digital transformation, actively contributing to reducing reliance on cash, while offering a diverse range of payment solutions. The central objective of SAMA in this initiative is to diversify and modernize the Saudi financial sector, aligned with the ambitions of the Vision 2030.
HyperPay’s Ambitions for an Interconnected Future
The founder and CEO of HyperPay, Muhannad Ebwini, expressed that obtaining this license reflects the company’s continuous efforts to expand its operations nationally and internationally. Through this decisive step, HyperPay aims to provide businesses with secure and seamless payment services, thereby meeting Saudi Arabia’s goals to enhance the efficiency of its financial system. Additionally, the development of cutting-edge financial services is an integral part of HyperPay’s strategy to support national economic growth by streamlining business transactions. HyperPay’s expansion plans also include consolidating the infrastructure for modern financial services, in close cooperation with SAMA.
Impact on the Fintech Landscape in Saudi Arabia
The acquisition of the license by HyperPay symbolizes significant progress for the fintech sector in Saudi Arabia, especially at a time when government investment and technological advancement are at their peak. This development aligns with SAMA’s strategy to increase financial inclusivity and provide financial services to a broader spectrum of the population. With its headquarters in Riyadh and offices in Jordan and the United Arab Emirates, HyperPay illustrates how close collaboration with SAMA can transform financial transactions, enhancing user experience and establishing a favorable digital ecosystem. This digital shift is in line with the Kingdom’s ambitions to integrate innovative payment solutions at the core of its economy.
