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1/13/25, 1:28 PM HyperPay obtains license from the Saudi Central Bank to expand digital payment services in the Kingdom – Bizpreneur Middle East
HyperPay obtains license from the Saudi Central

Bank to expand digital payment services in the

Kingdom

LATEST NEWS, NEWS January 10, 2025 News

In a move that strengthens the diversification and development of the financial sector in the Kingdom
of Saudi Arabia, the Saudi Central Bank (SAMA) has announced the granting of a license to
HyperPay Inc. Saudi Arabia for Information Systems Technology to operate digital payment services
via an electronic wallet in the Kingdom. This license marks an important step in enhancing the
company’s position in the growing digital payments market in Saudi Arabia.
HyperPay is a leading company in the financial technology sector, aiming to support the transition to
a less cash-dependent society by offering innovative payment solutions and advanced financial
services that meet market needs and future aspirations.

Muhannad Ebwini, Founder and CEO of HyperPay said, said: “We are proud to have received this
license from the Saudi Central Bank, which represents a significant milestone in enhancing our
leadership in the electronic payment sector. 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.”
Ebwini added that this license reflects HyperPay’s ongoing efforts to expand its operations and offer
services more widely, contributing to the growth of its customer base and reducing reliance on cash.
He also emphasized the company’s commitment to innovation by developing advanced financial
services, which supports national economic growth by facilitating payment processes and simplifying
business transactions.
This move is part of the Saudi Central Bank’s (SAMA) strategy to support the financial technology
sector, as the bank continues to work toward enhancing the effectiveness and flexibility of the
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