Page 8 - HyperPay PR REPORT - FEBRUARY 2025

Press Release

HyperPay signs MoU with barq to elevate quality of

services and enhance customer satisfaction

Riyadh, KSA, 25 February 2025- HyperPay, a leading payment gateway provider in
the MENA region, signed a Memorandum of Understanding (MoU) with barq, an
innovative start-up in Saudi Arabia’s financial services sector. The strategic partnership
aligns with HyperPay’s efforts to enhance the quality of services for clients, further
ensure their satisfaction, and meet their needs by offering advanced financial services.

Muhannad Ebwini, Founder and CEO of HyperPay, and Abduelah bin Khathlan,
Acquiring Director at barq, signed the MoU during LEAP 2025, which was held
recently at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh,
for the fourth consecutive year. Over 1800 prominent global and local companies from

the financial and technology sectors participated in the event.

Muhannad Ebwini, Founder and CEO of HyperPay, stated: “Our partnership with

barq is a testament to our strategic and shared vision of innovating and delivering
exceptional financial services across the Kingdom. This initiative allows us to provide
innovative and up-to-date financial services, further driving digital transformation and
addressing evolving market demands. It also plays a crucial role in achieving the
objectives of Saudi Vision 2030, which aims to promote sustainable development and

strengthen the national economy and diversity.”

Abduelah bin Khathlan, Acquiring Director at barq, said: “It is an honour to sign

this MoU with HyperPay. It has the potential to leverage both companies’ strengths and
create diverse and smart experiences for users of the barq digital wallet and electronic
payment application. It reflects our ambitious vision and commitment to foster
innovation and renewal, further ensuring customer satisfaction and trust in our financial
services.”

This MoU reflects HyperPay’s commitment to forge strong partnerships that enhance
the development of the company’s financial services. These partnerships aim to provide
reliable, fast, and innovative financial solutions that meet customer and market
expectations, especially as the financial technology and digital payments sectors in the

Kingdom continue to evolve rapidly.

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