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1/13/25, 1:30 PM How Will HyperPay's Expansion Impact Saudi Arabia's Fintech Sector? | B2Bdaily.com

How Will HyperPay’s Expansion

Impact Saudi Arabia’s Fintech
Sector?

by Mikhail Hamilton January 10, 2025

Article Summary 00:0001:00

HyperPay, a leading Saudi payments services provider in the MENA region, recently secured a license from
the Saudi Central Bank (SAMA) to expand its digital payment offerings in Saudi Arabia. This significant
development aligns with Saudi Arabia’s Vision 2030, which centers on enhancing the efficiency and fostering
the digital transformation of the financial sector. HyperPay is set to manage digital payment services via an
electronic wallet within the Kingdom, with a primary focus on delivering secure and seamless payment
solutions to businesses and consumers alike.

This initiative, as emphasized by CEO Muhannad Ebwini, aims to provide businesses with efficient payment
services, reflecting SAMA’s broader strategy to support the growing financial technology sector. By
promoting innovation and improving financial transaction experiences, HyperPay’s expansion is expected to
drive financial inclusion across various segments of society. Moreover, HyperPay’s active participation in
Seamless Saudi Arabia 2024, in collaboration with ACI Worldwide, highlights the company’s commitment to
facilitating AI-driven payment innovations in the region.

Additionally, HyperPay’s plans for an initial public offering (IPO) within the next two years underline its
strategic objective to scale its business across the MENA region. This move is not just a significant step for
HyperPay but also a reflection of the company’s dedication to contributing to the diversification and growth of
Saudi Arabia’s financial sector. By expanding its regional footprint, HyperPay aims to enhance the overall
landscape of the fintech industry, introducing advanced payment solutions and setting the stage for future
developments and innovations.

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