Page 53 - HyperPay PR REPORT - JANUARY 2025

1/16/25, 4:36 PM Hyper pay obtains licence from the Saudi Cent ral Bank
Hyper pay obtains licence from the Saudi Cent ral Bank

Gulf Today · 10 Jan 2025

RIYADH: In a move that strengthens the diver si c a tion and devel op ment of the n an cial sec -
tor in the King dom of Saudi Ara bia, the Saudi Cent ral Bank (SAMA) has announced the grant -
ing of a license to Hyper pay Inc. Saudi Ara bia for Inform a tion Sys tems Tech no logy to oper ate
digital pay ment ser vices via an elec tronic wal let in the King dom. This license marks an

import ant step in enhan cing the com pany’s pos i tion in the grow ing digital pay ments mar ket
in Saudi Ara bia.
Hyper pay is a lead ing com pany in the n an cial tech no logy sec tor, aim ing to sup port the
trans ition to a less cash-depend ent soci ety by o er ing innov at ive pay ment solu tions and

advanced n an cial ser vices that meet mar ket needs and future aspir a tions.
Muhan nad Ebwini, Founder and CEO of Hyper pay said, said: “We are proud to have received
this license from the Saudi Cent ral Bank, which rep res ents a sig ni c ant mile stone in enhan -
cing our lead er ship in the elec tronic pay ment sec tor. Through this step, we aim to enable

busi nesses to bene t from secure and seam less pay ment ser vices, in line with the goals of
Saudi Ara bia’s Vis ion 2030 to improve the e ciency of the n an cial sys tem and sup port
digital trans form a tion.” Ebwini added that this license re ects Hyper pay’s ongo ing e orts to
expand its oper a tions and o er ser vices more widely, con trib ut ing to the growth of its cus -

tomer base and redu cing reli ance on cash. He also emphas ized the com pany’s com mit ment to
innov a tion by devel op ing advanced n an cial ser vices, which sup ports national eco nomic
growth by facil it at ing pay ment pro cesses and sim pli fy ing busi ness trans ac tions.

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