Page 23 - Hyperpay PR REPORT - SEPTEMBER 2024

9/25/24, 4:26 PM Latest News

AI in fintech: How HyperPay leverages cutting-

edge technology to transform payment gateways

24/09/2024

23 September 2024- In the rapidly evolving digital age, artificial intelligence (AI) has emerged as a game-
changer, revolutionising industries across the spectrum by offering unprecedented opportunities for growth

and propelling businesses to new heights of success. Like any other industry, AI has had a profound effect on
the fintech sector, transforming the industry at its core. Within this realm, payment gateways have witnessed

a profound transformation, thanks to the innovative applications of AI-powered tools. These tools are not only
enhancing security and streamlining operations but also revolutionising the way financial institutions engage

with their customers.
AI-driven technologies, such as chatbots and virtual assistants, are reshaping the customer experience by
providing efficient and personalised support. These intelligent systems leverage natural language processing

to understand and respond to customer inquiries, offering instant assistance during checkout or order
fulfilment. 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 per cent of fintech firms in the region are

actively engaged in payments, transfers, and remittance services, contributing to the growth of the digital

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