HyperPay Secures Licence From Saudi Central Bank, in Aim to Support Regional Digital Transformation

This post was originally published on The FinTech Times

HyperPay, a payment gateway operating in the Middle East and Northern Africa (MENA), has secured a digital payment licence from the Saudi Central Bank (SAMA). 

With its newly obtained licence, HyperPay can now operate digital payment services via an electronic wallet in the Kingdom of Saudi Arabia. The fintech aims to support the transition to a less cash-dependant society by launching a range of payment solutions and financial services. SAMA also says that the move looks to help strengthen the diversification and development of the financial sector in Saudi Arabia.

Muhannad Ebwini, founder and CEO of HyperPayMuhannad Ebwini, founder and CEO of HyperPay

Muhannad Ebwini, founder and CEO of HyperPay, says the licence reflects the firm’s ongoing efforts to expand its operations and offer services more widely. “Through this step, we aim to enable businesses to benefit from secure and seamless payment services, in line with the goals of Saudi Arabia’s Vision 2030 to improve the efficiency of the financial system and support digital transformation,” he added.

Ebwini also emphasised the company’s commitment to innovation by developing advanced financial services, which supports national economic growth by facilitating payment processes and simplifying business transactions.

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Read the rest of this post, which was originally published on The FinTech Times.

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