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12/12/24, 3:23 PM Promoting financial inclusion in Kingdom: HyperPay's role in providing digital payment solutions for SMEs | MENAFN.COM

Promoting financial inclusion in Kingdom:

HyperPay's role in providing digital payment

solutions for SMEs

Date Share on Facebook Tweet on Twitter
2024-12-11 08:00:29

(MENAFN- Orient Planet Group) 11 December 2024 - The Kingdom of Saudi Arabia (KSA)
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.
In addition, HyperPay contributes to creating a safe and sustainable environment for small
and medium-sized enterprises by providing advanced technologies such as payment
processing and risk management. This further advances their ability to expand and develop,

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