Page 35 - HyperPay PR REPORT - JANUARY 2025

1/16/25, 4:34 PM Latest Saudi News Updates from KSA Today

HyperPay Obtains License From The Saudi

Central Bank To Expand Digital Payment

Services In The Kingdom

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

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