Page 16 - Hyperpay PR REPORT - SEPTEMBER 2024

9/25/24, 4:26 PM Leveraging cutting-edge tech to transform payment gateways
processing to understand and respond to customer inquiries, offering instant assistance during checkout
or order fulfilment.

Imitating human intelligence

Moreover, AI algorithms can analyse vast amounts of data to identify potential fraud risks, safeguarding
both businesses and consumers. In essence, AI tools imitate human intelligence to address payment-
related problems quickly and cost-effectively.

The Mena region has witnessed a surge in digital payments, driven by increasing internet penetration,
mobile usage, and supportive government initiatives. About 85% of fintech firms in the region are

actively engaged in payments, transfers, and remittance services, contributing to the growth of the
digital economy. The UAE, Saudi Arabia, and Egypt have emerged as key players in the fintech
landscape, with a thriving ecosystem of startups and a focus on innovation.

For instance, the UAE has over 800 startups worth $15.5 billion. With nearly a third of businesses

expecting significant growth (over 20%) in 2024, digital payment innovations have emerged as a crucial
element for success in the dynamic, ever-evolving business landscape.

More than 100 industry executives across the UAE, Saudi Arabia, and Egypt emphasise the critical
importance of digital payment for businesses in the region. A staggering 81 per cent of companies
surveyed believe that speedier transactions directly contribute to increased revenue. Additionally,

around 83 per cent of executives recognise the significance of easy payment completion in building
customer loyalty.

HyperPay at the forefront

HyperPay, a leading payment gateway provider in the Mena region, has been at the forefront of

integrating AI into its operations. The company’s commitment to providing exceptional payment
solutions is driven by a deep understanding of the evolving needs of businesses and customers.

At the heart of the company lies its mission of providing companies with the best payment gateway,
payment solutions, and payment services, to make all payment processes easier, faster, and more

reliable.

The company has incorporated AI across many of its operations for a variety of reasons. AI-driven
algorithms analyse transaction patterns in real-time to detect and prevent fraudulent activities. Its
advanced fraud prevention solution leverages a combination of risk, settings, machine learning, fraud
and payments data, as well as advanced analytics to identify suspicious transactions and protect

businesses from financial losses. Businesses that use or accept debit and credit cards online are always
at risk of fraud.

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