Page 12 - HyperPay PR REPORT - DECEMBER 2024

12/18/24, 5:05 PM Riyadh Daily

By Muhannad Ebwini, founder and CEO of HyperPay
Promoting financial inclusion in Kingdom: HyperPay's role in providing digital payment
solutions for SMEs

The Kingdom of Saudi Arabia seeks to achieve the highest levels of financial inclusion by improving access to financial services for all
segments of society, including small and medium enterprises. This is an essential part of the Kingdom’s Vision 2030 objectives to
diversify the economy and stimulate economic growth by enhancing the role of the financial sector as a fundamental pillar of the
economy.
Financial inclusion is the key to a thriving economy. It is a vital component in driving the development process in the Kingdom,
as the country seeks to enable individuals and companies to access financial services easily and safely, enhancing economic
diversification and fostering sustainable development. Furthermore, providing accessible banking services ensures that the
unbanked and underbanked population, such as those who do not have bank accounts and access to bank loans and
electronic payment services, participate in the formal financial system, thereby stimulating economic growth. Thus, financial
inclusion becomes a pivotal tool for empowering individuals and companies, particularly small and medium-sized enterprises
(SMEs), and fostering economic growth. It also enhances the ability of companies to expand and grow within a safe and
effective digital environment.

In this context, financial technology is becoming increasingly important. Digital solutions in the field of electronic payments
have become instrumental in enabling companies to simplify their financial operations and enhance their ability to expand and
grow in competitive markets. Small and medium enterprises, which constitute 99.5 percent of all companies in Saudi Arabia,
are a key element in achieving economic growth, and financial inclusion enables these companies to obtain the requisite
financial tools to achieve sustainable development.
The Kingdom has witnessed a remarkable boom in the use of digital solutions, thanks to rapid technological developments
and the increased spread of smartphones and the internet, which has brought a qualitative shift in how financial services are
provided.

In this context, HyperPay stands out as one of the leading companies in the Kingdom that provides digital payment solutions.
As one of the most prominent players in this field, the company offers innovative solutions enabling SMEs to accept electronic
payments easily and securely. This enhances their cash flows, allowing them to expand the scope of their business and
elevate their business to greater heights.

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