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1/16/25, 4:35 PM HyperPay Obtains License from the Saudi Central Bank to Expand Digital Payment Services in the Kingdom - Middle East Busines…
HyperPay Obtains License from the

Saudi Central Bank to Expand Digital

Payment Services in the Kingdom

January 9, 2025 14

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.

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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

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