HyperPay, the largest and fastest-growing payments services provider in the MENA region, has formed an extended partnership with ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, to facilitate AI-driven payment innovations across the MENA region. The partnership was signed on the sidelines of HyperPay’s participation in Seamless Saudi Arabia 2024, held at the Riyadh Front Exhibition Centre between October 22 and 24.
HyperPay provides an all-in-one payment platform that empowers eCommerce and retail providers to seamlessly accept payments and rapidly grow while efficiently managing risks and tracking results. The company’s one-click payment solution ensures a highly convenient and efficient payment experience by enabling customers to complete transactions at the click of a button while adhering to the Saudi Arabian Monetary Agency’s stringent regulations for safeguarding sensitive payment information.
The partnership enables HyperPay to leverage ACI’s Payments Orchestration Platform to streamline all payments within a single platform, ensuring optimal conversion rates and minimal operational costs. Moreover, the company will also utilise ACI’s Payment Intelligence and Fraud Orchestration Platform which is integrated with AI and machine learning, to automate fraud protection and access key analytics on consumer behaviours, thereby enhancing interactions, reducing friction and bolstering acceptance rates.
ACI Worldwide’s 2024 Prime Time for Real-Time report has positioned the Middle East as the fastest-growing real-time payments market for the second year in a row. Within this dynamic landscape, Saudi Arabia is emerging as one of the region’s largest economies and digital payment adopter, with the nation’s real-time payment transaction volume poised to grow from 430 million in 2023 to 1.3 billion by 2028. This reflects the objectives of Saudi Vision 2030, a strategic framework that aims to nurture a prosperous economy through digital transformation and financial inclusion while achieving 70 per cent of non-cash transactions by 2030.
Muhannad Ebwini, Founder and CEO of HyperPay said: “HyperPay is at the forefront of Saudi Arabia’s cashless revolution, and we are fully dedicated to advancing digital payment innovation, harnessing AI to elevate payment experiences, and ensuring robust security of all transactions. Our partnership with ACI Worldwide supports our global and forward-looking outlook to expand into new markets and introduce new products and services with speed and agility.”
Santhosh Rao, Senior Vice President, MEASA, ACI Worldwide said: “ACI is proud to partner with HyperPay to revolutionise digital payments across the MENA region. Through this partnership, ACI and HyperPay aim to empower customers by offering fast, secure and frictionless payment experiences. The partnership further underscores our joint strategic vision of leveraging advanced AI-driven technologies to promote innovation and positively shape the future of digital payments across the MENA region and beyond.”
HyperPay, the leading payment gateway provider in MENA, showcased its cutting-edge payment solutions and services at Seamless Middle East 2024, held at the Dubai World Trade Centre from May 14 to 16, 2024. The company utilised the platform to share valuable insights and long-standing expertise in positively transforming the regional fintech landscape.
During the event, the HyperPay team proactively engaged with attendees, educating them about the latest trends, challenges, and opportunities shaping the regional fintech sector. The company has positioned itself as a trailblazer in the dynamic fintech landscape, led by an unwavering commitment to steering innovation and revolutionising financial services through an array of cutting-edge payment solutions.
Muhannad Ebwini, Founder and CEO of HyperPay, said: “We are pleased to be a part of Seamless Middle East 2024, which is a leading platform that promotes innovation across diverse sectors in the MENA. At HyperPay, our mission is to develop best-in-class fintech payment solutions that streamline our clients’ key processes and enhance customer satisfaction. The event provided us with a platform to showcase our highly secure and advanced financial services through which we aim to revolutionise the regional payment system. Driven by the success of this exhibition, we will continue to address pertinent challenges impacting the industry and shape transformative solutions that will benefit the sector.”
At a time when the global banking and financial services sector is undergoing an unprecedented transformation due to the advent of fintech, Seamless ME aims to convene innovative fintech startups from across the globe, creating a collaborative forum for tackling pertinent challenges. The event hosted over 25,000 attendees, more than 500 startups, 700 exhibitors, and 500 speakers from across the MENA, facilitating discussions on important fintech topics such as mobile banking, blockchain, digital payments, and cybersecurity among others. It also encompassed keynote addresses, panel discussions, workshops, and exhibitions focusing on the latest innovations in fintech.
HyperPay is known for facilitating innovative payment solutions across the MENA region, empowering companies to process payments seamlessly and securely through cutting-edge technology and reliable customer services. The company offers online payment, mobile payment, and point-of-sale solutions, as well as value-added services such as fraud protection, chargeback management, and data analytics to ensure efficient payment services for users.
HyperPay, a leading payment gateway provider in the MENA region, showcased its innovative payment solutions and services at the prestigious Arabian Travel Market (ATM), which was held from May 6 to 9, 2024, at the Dubai World Trade Centre.
HyperPay’s presence at ATM not only underscored its commitment to driving innovation but also solidified its position as a leader in the fintech industry. With a focus on enhancing guest experiences and streamlining hotel operations, HyperPay’s hospitality service offers a seamless payment and collection method.
Highlighting the importance of the event, Muhannad Ebwini, founder and CEO of HyperPay, emphasized the event’s significance in forging new partnerships and elevating customer experiences. He stated, “At HyperPay, we are committed to excellence, quality, and innovation. Our participation at ATM underscores our dedication to providing the best payment solutions in the fintech sector, particularly in the hospitality industry, to streamline processes and enhance customer satisfaction.”
ATM, renowned as the nexus of tradition and innovation in the hospitality sector, provided an optimal platform for HyperPay to showcase its unparalleled hospitality services. As one of the premier global events for the inbound and outbound travel industry in the Middle East, ATM served as a meeting point for visionaries and industry leaders.
The Arabian Travel Market serves as the ultimate convergence point for various travel sectors and verticals, facilitating networking opportunities and fostering growth. With over three decades of unlocking business potential for the travel trade industry, ATM continues to drive global travel and tourism growth. Whether the focus lies in expanding MICE, leisure, luxury, or corporate travel, ATM caters to all. With its exponential growth mirroring the markets it serves, the event fosters a staggering USD 2.5 billion in deals.
By unveiling its innovative payment solutions at ATM 2024, HyperPay reaffirmed its commitment to transforming the hospitality landscape and delivering unparalleled value to its clients and partners.
HyperPay, the leading payment gateway provider in the MENA region, signed a collaboration agreement with Capital Bank intending to drive the future of streamlined payment gateway services for merchants. The collaboration marks a significant step in the journey of both parties, as they will make combined efforts to develop the payment landscape for merchants.
The collaboration will enhance the online payment gateway services, offering benefits to both merchants and consumers. By leveraging Capital Bank’s digital payment acceptance services, HyperPay seeks to deliver a seamless and efficient payment gateway experience, solidifying its commitment to empowering businesses and ensuring a secure and seamless transaction experience.
The agreement covers three key areas to provide the highest quality services to both merchants and customers. The initial focus of the collaboration is the optimisation of payment gateway services. This enables HyperPay and Capital Bank to offer enhanced payment gateway services that can meet the evolving requirements of merchants. The second focus area is the enhancement of merchant experience, in line with which both parties will prioritise ensuring a user-friendly payment experience through its services that promote customer satisfaction and foster loyalty. Finally, it aims to offer secure and reliable transactions by integrating Capital Bank’s digital payment acceptance services with HyperPay’s advanced technology. It will also help in instilling confidence in both merchants and customers alike.
Muhannad Ebwini, Founder and CEO of HyperPay said: “At HyperPay, our strategies and initiatives come in line with our keenness for empowering businesses and facilitating seamless transactions. Our recent collaboration with Capital Bank is a testament to our commitment to achieving excellence through technological synergy. This partnership combines Capital Bank’s acquiring expertise with HyperPay’s cutting-edge technologies, aiming to redefine merchant payment experiences. Our goal is not only to enhance transactional efficiency but also to elevate the overall journey for both merchants and customers. We are dedicated to delivering secure, reliable, and innovative payment solutions that promote customer satisfaction and loyalty. As we embark on this journey with Capital Bank, we are excited to exceed the evolving needs of merchants in the present dynamic business landscape.”
Rajaei Ajjour, Chief Payments & Acquiring Officer at Capital Bank – Jordan & Iraq, expressed his enthusiasm for the collaboration, stating, “This strategic partnership with HyperPay underscores Capital Bank’s commitment to elevating payment gateway services. By integrating our digital payment acceptance services with HyperPay’s advanced technologies, we aim to empower merchants with efficient, secure, and seamless transaction experiences. This collaboration is a testament to our dedication to fostering innovation and providing unparalleled value to both merchants and consumers.”
HyperPay is renowned in the MENA region for its distinguished services that support companies to accept payments from customers rapidly, securely, and seamlessly. With a significant focus on advanced technologies, the company offers online payments, mobile payments, point-of-sale solutions, and value-added services, such as fraud protection, chargeback management, and data analytics.
HyperPay, the leading payment gateway provider in the MENA region, showcased the upgraded version of its ‘HyperSight’ analysis tool at the recently held LEAP 2024 Conference in Riyadh. The newly enhanced tool boasts a cutting-edge dashboard equipped with innovative features designed to transform real-time data analysis and visualisation for businesses in the fintech sector.
HyperPay’s participation in the LEAP 2024 Conference demonstrates its unwavering commitment to fostering the growth and innovation of the fintech industry in the region while offering assistance to companies in the sector through various innovative solutions. The new dashboard of HyperSight includes a variety of intuitive features, including visualisation, tracking, monitoring, filtering, and data exploration capabilities. These features enable businesses to effortlessly monitor crucial metrics such as transaction volume, overall revenue, acceptance rates, and decline reasons, providing invaluable insights to inform strategic decision-making.
Muhannad Ebwini, Founder and CEO of HyperPay stated: “We are pleased to have participated in the LEAP 2024 Conference and showcased our upgraded HyperSight tool, which aims to empower businesses by unlocking the power of data. Through this solution, we seek to enable companies to take informed actions based on real-time, reliable data and insights. The LEAP 2024 Conference served as an excellent opportunity for us to shed light on our solutions, share our vision and connect with the global tech community. Our participation in this event aligns with our commitment to advance the growth of the fintech industry through numerous diverse financial solutions.”
The HyperSight tool facilitates the identification of patterns and trends in sales, customer behaviour, and performance over time. It also generates reports on a variety of payment processing-related topics, including daily summaries, keeps close tabs on possible fraud attempts and suspicious activity in real time, as well as efficiently manages chargebacks by reviewing payment details. Furthermore, it determines and resolves the issues that affect conversion rates, such as abandoned carts and unsuccessful payments, and allows to experiment with various payment options, checkout procedures, and promotional offers in order to enhance customer experiences. To raise the average order value, the tool provides flexible payment alternatives, such as installment plans or recurring billing, as well as utilises data to tailor communications and websites to customers’ preferences.
Additionally, the tool offers self-service tools where customers can monitor their orders, update their payment details, and control subscriptions. To promote transparency and trust, the tool provides real-time transaction confirmations and notifications. It further analyses customer behaviour and preferences to gain a deeper understanding of the target audience, in addition to customising communications based on purchase history and customer data. Moreover, by examining previous performances, the tool also helps companies to anticipate upcoming trends, enabling them to proactively adjust their strategies and operations to align with changing market dynamics.
One of the pioneers in the fintech sector, HyperPay provides businesses and customers throughout the Middle East and North Africa region with an extensive array of state-of-the-art payment solutions and services. The company’s offerings include online and mobile payments, in addition to value-added services, such as cost management, fraud protection solutions, and data analytics
In the present fast-paced world of e-commerce, the success of an organisation is defined by the seamless and personalised experience it provides for customers across every touchpoint. A fundamental aspect of this experience is the checkout process, which is the final step in the online purchasing journey. A perfect and streamlined checkout process can provide numerous compelling advantages, including driving up conversion rates as well as leaving a lasting impact on customers, thereby elevating consumer satisfaction and bolstering brand credibility.
It has been reported that around 42.9 per cent of all online purchases are done through mobile devices, typically smartphones. Before the COVID-19 outbreak, the e-retail sector in the Gulf Cooperation Council (GCC) region was projected to have a 12.2 per cent penetration rate of offline retail in 2025. After the pandemic, the projected penetration rate increased to about 16.3 per cent.
A recent Agility Logistics study stated that the Saudi e-commerce market generated a revenue of USD 10 billion in 2023, making it the 28th largest online market globally. The Kingdom’s e-commerce market is estimated at USD 13.61 billion in 2024 and is slated to reach USD 27.37 billion, registering a CAGR of 15.01 per cent during the forecast period 2024-2029.[3] In 2023, the UAE’s e-commerce market was valued at USD 8856.18 million and is projected to grow at a compound annual growth rate (CAGR) of 11.52 per cent to reach USD 16532.75 million over the forecast period of 2024-2029 [5]. The growth of the e-commerce market is driven by a combination of factors, notably the increased usage of the internet and a tech-savvy population.
To assist companies involved in the world of e-commerce, several digital payment solution providers are going above and beyond to innovate and deliver various ground-breaking solutions that contribute to an enhanced checkout experience. For instance, HyperPay, a leading payment gateway provider in the MENA region, has designed several innovative solutions that significantly revolutionise checkout processes, enriching customer experiences across various e-commerce platforms. By leveraging its cutting-edge technology and user-friendly interface, the company promises a rapid, secure, and smooth checkout process for both customers and businesses.
A striking feature that distinguishes HyperPay in the market is its support for multiple payment methods. By utilising HyperPay’s solutions, customers can choose their preferred type of payment option at checkout, including credit cards, debit cards, digital wallets, or bank transfers. This flexibility enhances inclusivity and satisfaction by serving a wide range of customers preferences and demands. In addition, it also provides one-click payment options, where customers can save their payment information for future purchases, eliminating the need for re-entering their details every time they make a transaction.
Furthermore, several e-commerce platforms, including Shopify, WooCommerce, Magento, and others, are easily integrated with HyperPay. Owing to this integration, the need for complicated technological installations and setups is eliminated, enabling businesses to integrate HyperPay’s payment solutions quickly and seamlessly into their current online storefronts. As a result, merchants can completely focus on providing remarkable products and services, while HyperPay efficiently manages the payment processing in the background. Furthermore, a leading payment gateway provider offers responsive checkout pages, which are optimised for a range of devices, including desktops, laptops, smartphones, and tablets. Regardless of the device a customer uses, HyperPay’s mobile-friendly checkout pages provide a smooth experience that increases customer happiness and conversion rates.
Security is always a concern as well as a matter of paramount significance when it comes to online transactions. It plays a crucial role, particularly during the checkout process as sensitive financial information is exchanged during this time. HyperPay places a high priority on ensuring security by adhering to industry standards, such as the Payment Card Industry Data Security Standard (PCI DSS) as well as using strong encryption protocols. This way, customers are provided with utmost confidence and trust by offering a safe and secure payment environment, which encourages them to seamlessly complete their transactions.
The number of individuals making online purchases is rising significantly in Saudi Arabia, owing to the greater convenience it offers as well as the ease of use. Similarly, the number is also increasing substantially in the UAE, with a World Bank report stating that around 9.82 million people in the UAE made online purchases in 2023. The report states that this number is expected to reach 11.11 million by 2025. The growing number of individuals making online purchases offer scammers the opportunity to prey on vulnerable customers. Around 93 per cent of fraudulent financial activities happened after the COVID-19 outbreak, according to Arabian Business, lending credence to the fact that cybercrime activity is rising quickly. This is anticipated to serve as an impediment to the e-commerce market expansion.
To identify and prevent fraudulent transactions in real-time, HyperPay leverages various cutting-edge fraud prevention tools and technology. These tools include geolocation tracking, behavioural analysis, and machine learning algorithms as well as safeguard both customers and merchants by minimising chargebacks and identifying suspicious activities.
Enterprises can further easily tailor the checkout processes using HyperPay to align with their corporate identity. They can customise the payment process and reflect their branding elements, from branded invoices and receipts to customised payment pages. This personalisation not only increases brand awareness but also strengthens consumer brand loyalty. Additionally, an easy and quick checkout procedure lessens friction throughout the buying process, which increases conversion rates and lowers cart abandonment rates. This, combined with other remarkable features, enables companies to create a favourable impression of the company, which in turn promotes repeat business and long-term customer relationships.
Achieving success in the highly competitive e-commerce market of the present requires providing exceptional customer experiences. HyperPay plays a crucial role in this regard since it improves the overall online buying experience and streamlines checkout procedures. Through payment efficiency, security prioritisation, and numerous customisation possibilities, HyperPay enables businesses to establish smooth and memorable customer interactions at the final stage of their purchase journey.
HyperPay, the leading payment gateway provider in the MENA region, has been honoured with the ‘Best B2B Fintech Provider of the Year’ in recognition of its outstanding performance and excellence in the B2B fintech sector.
The award, which was presented during the second edition of the Arab Fintech Forum held recently in Doha, Qatar, represents a significant milestone for HyperPay. It underscores the company’s unwavering commitment to driving fintech innovations and delivering exceptional customer-centric solutions that have made a remarkable impact on the B2B fintech space. Setting new benchmarks for excellence in the fintech industry, the company’s cutting-edge financial solutions have paved the way for a seamless and efficient payment experience, significantly enhancing user interactions.
During the event, HyperPay showcased its cutting-edge payment solutions and services that are optimising, securing, and simplifying various payment procedures, at its booth. The company’s participation in this event, which provided a robust and supportive environment for fintech businesses, has accelerated HyperPay’s expansion plans into the Qatari market.
Muhannad Ebwini, Founder and CEO of HyperPay commented: “We are extremely honoured to receive the ‘Best B2B Fintech Provider of the Year’. This honor serves as a testament to our relentless pursuit of excellence in the dynamic and ever-evolving world of fintech as well as our commitment to delivering a plethora of ground-breaking fintech solutions and services that are secure, effective, and user-friendly. It was a great opportunity to participate in the second edition of the Arab Fintech Forum held in Qatar and network with a range of industry leaders and players in the fintech industry from across the MENA region. Our participation in this event holds further significance as it advances our expansion plans into the regional market.”
The Arab Fintech Forum is a leading event that aims to address the challenges and innovative opportunities within the global as well as regional financial ecosystem. The event brought together over 300 participants and featured several exhibitions and hands-on workshops conducted by industry experts, which served as a great opportunity for fostering innovation and collaboration. It also held several discussions on important topics, including digital banking, financial inclusion, AI and blockchain applications in financial services, emergence of Islamic fintech in the era of the fintech revolution, and the evolution beyond wallets and payments to encompass BNPL, crowdfunding, and InterTech.
The event served as an ideal platform for HyperPay to share its wealth of expertise in the ever-evolving fintech sector. By exhibiting its cutting-edge payment solutions and services, HyperPay demonstrated both its drive for innovation and its focus on improving customer experiences.
HyperPay’s diverse offerings include online payments, mobile payments, point-of-sale solutions, as well as value-added services, including fraud protection, chargeback management, and data analytics. With a significant focus on technology and top-notch customer service, HyperPay is dedicated to assisting businesses in accepting payments from customers promptly, securely, and seamlessly. The company’s participation in this event is consistent with its mission to establish new benchmarks in the constantly evolving financial technology ecosystem through various innovations, ultimately promoting the development and expansion of fintech in the MENA region as well as providing unmatched value to customers.
Doha, Qatar: – Mastercard, a global technology company in the payments industry, has officially confirmed its role as the Platinum Sponsor of the upcoming Arab Fintech Forum in Qatar. This announcement underscores Mastercard’s unwavering dedication to driving innovation within the dynamic fintech space.
Erdem Çakar, Country Manager, Qatar and Kuwait, Mastercard, said, “Mastercard is proud to support the Arab Fintech Forum as Platinum Sponsor. Events like these are vital to fostering dialogue, deepening relationships, and driving innovation across our industry. We look forward to two days of stimulating conversations as market leaders join forces to shape the future of fintech.”
HyperPay, the region’s leading payment gateway, and eMcREY, a company at the forefront of digital financial transformation, have been secured as Gold Sponsors of the event. Their participation attests the forum’s role as a key assembly point for industry leaders. Additionally, the forum is delighted to welcome R3, a global enterprise software firm specializing in blockchain technology, as the Silver Sponsor of this year’s edition.
The second edition of the forum will unfold against the backdrop of Qatar Central Bank’s Fintech Strategy implementation. This initiative aims to establish Qatar as a prominent fintech hub with a strong focus on developing a robust digital infrastructure, supporting local start-ups, and fostering partnerships with global fintech firms. The Arab Fintech Forum is aligned with this national strategy and is positioned to facilitate its objectives, further contributing to Qatar’s leadership in fintech innovation.
The forum’s official media partners include The Fintech Times, the world’s first and only monthly newspaper dedicated to fintech.
Malik Shishtawi, the President and Founder of the Arab Fintech Forum, commented, “We are extremely pleased to have the support of such esteemed companies for this year’s forum. Their participation reinforces the forum’s critical role in the rapidly evolving fintech landscape. With the event set in Doha, we are poised to make a meaningful contribution to the advancement of financial inclusion throughout the MENA region.”
The Arab Fintech Forum is scheduled to take place in Doha, Qatar, on October 10-11, 2023. The forum will feature a comprehensive lineup of sessions, workshops, and networking opportunities, solidifying its reputation as an essential event for professionals in the fintech sector.
HyperPay, the leading payment gateway provider in the MENA region, showcased its cutting-edge payment solutions and services that are reshaping the fintech landscape and elevating customer experiences at the Seamless Saudi Arabia 2023.
The event, which was held at Riyadh Front Exhibition Centre between September 4 and 5, 2023, provided a platform for HyperPay to share its extensive expertise and knowledge in the rapidly expanding fintech sector. The company has established itself as a frontrunner in the fintech industry by redefining payment processes and elevating customer interactions. HyperPay’s participation at the event reaffirmed its steadfast commitment to driving innovation and revolutionising the world of finance through its array of innovative payment solutions. During its participation, the company interacted with the attendees and informed them about the latest trends that are disrupting the industry, as well as various new challenges and opportunities within the evolving fintech landscape.
Furthermore, HyperPay entered into strategic partnerships with three prominent organizations, including Bank Al Jazera (BAJ), Azm, and Paymentology, marking significant milestones in its journey. The company inked an agreement with Bank Al Jazera during a ceremony held at the event, which strongly reflects HyperPay’s dedication to redefining financial services. Under this partnership, HyperPay will employ a variety of cutting-edge fintech solutions to provide innovative payment channels that will lay the groundwork for transforming the financial services ecosystem in the KSA. The second crucial agreement signed with Azm highlights their shared goal of advancing business-to-business fintech solutions, providing recurrent payment services for corporates, and increasing multiple payment efficiency. The partnership seeks to help businesses in improving customer experiences by making payment processes easier and reliable. This collaboration is poised to shape a more streamlined and secure financial industry by ushering into an era of cutting-edge B2B fintech products. Additionally, HyperPay solidified its partnership with Paymentology, a leader in payment solutions, to further enhance the innovative capabilities of its services. This collaboration is expected to bring about novel payment solutions that elevate customer experiences and set new industry standards.
Muhannad Ebwini, Founder and CEO of HyperPay stated: “We are delighted to attend the Seamless Saudi Arabia 2023, one of the biggest events highlighting recent innovations across various sectors. At HyperPay, we are committed to excellence, quality, and innovation. We are committed to providing the best payment solutions in the fintech sector that streamline processes for our clients, ultimately improving customer satisfaction and experience.”
He added: “At the event, we showcased our range of innovative and secure financial services through which we aim to redefine payment processes. We further seek to address various challenges in the industry and offer insightful information on current digital payment technologies. Seamless Saudi Arabia 2023 served as the perfect venue to showcase our leading expertise in the fintech domain and network with various key players and potential partners in the industry. As the payment industry evolves, we realise that collaboration is essential to maximising the full potential of Fintech.”
Being a pioneer in the fintech sector, HyperPay offers cutting-edge payment solutions to customers and businesses throughout the Middle East and North Africa. HyperPay helps companies to accept payments from customers rapidly, securely, and seamlessly, with a major emphasis on technology and excellent customer service. Online payments, mobile payments, point-of-sale solutions, as well as value-added services, including fraud protection, chargeback management, and data analytics, are all part of the company’s diverse offerings. The company’s participation in Seamless Saudi Arabia 2023 is consistent with its mission to revolutionise the payment landscape and provide unmatched value to customers.
Seamless Saudi Arabia 2023, one of the largest events of its kind in the region, brought together industry experts, entrepreneurs, investors, and thought leaders from across the world to share their expertise and interact with industry peers to identify prospects for growth. Over 20,000 attendees, 500 exhibitors and 450 speakers from around the region participated in this two-day event, where a wide range of fintech-related topics, including mobile banking, blockchain, digital payments, cybersecurity, and more, were discussed. The event also featured keynote addresses, panel discussions, workshops, and exhibitions displaying the most recent innovations, products, and services.
Hyperpay, the fastest growing online payment service provider in the MENAP region, founded by Muhannad Ebwini, is delighted to announce a strategic partnership with Paymentology, the global leading issuer-processor. The collaboration marks a significant milestone in Hyperpay’s mission to become a one-stop payment solution for businesses, governments, and SMEs across the Middle East.
Hyperpay and Paymentology are committed to delivering innovative payment solutions that align with the evolving needs of businesses and consumers. The Fintech industry in the MENAP region is expected to increase from $1.5 billion in 2022 to $4.5 billion in 2025, demonstrating the region’s transition towards digital financial services. Hyperpay already offers a wide range of products and services to its customers, including payment processing, risk and fraud management, monitoring systems, instalments, and invoicing solutions, among others. With Paymentology’s next-generation payments platform, Hyperpay will effortlessly connect to payment rails, create new payment products for its clients and leverage granular payment data to enhance its offerings.
Muhannad Ebwini, Founder and CEO of HyperPay, shared his view: “Hyperpay’s pivotal role aligns seamlessly with Saudi Arabia Vision 2030, driving the nation toward a digital-first era. Our strategic vision to become a one-stop shop for all payment services is a direct response to the pressing needs of businesses and government agencies, who demand instant, user-friendly payments accessible from anywhere, anytime. Embracing a global outlook, we’re proud to introduce a versatile offering tailored to both our regional dynamics and the stimulation of cross-border trade. Thus, our choice to partner with Paymentology, a leading global technology player, becomes paramount in this transformative journey.”
Nauman Hassan, Regional Director at Paymentology, commented: “Paymentology is proud to be associated with Hyperpay’s Saudi Arabia launch. With a strong foothold in the Middle East, particularly in the kingdom, where numerous fintechs and neobanks have sought our expertise in next-generation payments platforms, we’re well-equipped to facilitate Hyperpay’s rapid business growth. We firmly believe that Hyperpay’s introduction of advanced payment services aligns perfectly with the market’s needs, and we eagerly anticipate a successful partnership.”
Hyperpay is among the top-five payment providers in the MENA region, actively contributing to the shift towards cashless societies. The company recently secured $36.7 million (SAR 138 million) in funding through a round led by Mastercard, with investments from Amwal Capital Partners and AB Ventures. Hyperpay is only at the beginning of its journey and has ambitious plans to go public through an IPO in Saudi Arabia within the next two years. With a strong presence in Jordan and Saudi Arabia, Hyperpay is also set to expand its operations to Egypt, Bahrain, Iraq, and Oman as part of its ambitious growth plan.