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1/14/25, 2:22 PM HyperPay Obtains License From SAMA To Support Development Of Financial Services Ecosystem In KSA | Crowdfund Insider
HyperPay Obtains License from

SAMA to Support Development of

Financial Services Ecosystem in

KSA

January 13, 2025 @ 10:35 pm By Omar Faridi

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HyperPay, the Saudi payments services provider (PSP) operating in the MENA region, reportedly
obtained a license from the Saudi Central Bank (SAMA) in order to support the diversification and
development of the financial services ecosystem in KSA.

In line or consistent with its strategy to support the virtual payments sector, the Fintech firm will
operate digital payment services through an electronic wallet in the KSA (according to the official
company announcement).

Muhannad Ebwini, Founder and CEO of HyperPay, remarked:

“Through this step, we aim to enable businesses to benefit from secure and seamless payment
services, in line with the goals of Saudi Arabia’s Vision 2030 to improve the efficiency of the
financial system and support digital transformation.”

This latest move is said to be part of SAMA’s strategy to support the vibrant financial tech ecosystem,
as the authority remains focused on working toward bolstering the effectiveness as well as flexibility of
the financial industry in the Middle Eastern Kingdom.

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