HyperPay, a leading payment gateway provider in the MENA region, has announced that it has secured a licence from the Saudi Central Bank (SAMA). This milestone is part of HyperPay’s strategy to advance the development and optimisation of the financial sector in Saudi Arabia.
The licence allows HyperPay to operate digital payment services through an economic wallet in Saudi Arabia, supporting the digital payments market and enhancing financial services in the region. This expansion aligns with SAMA’s efforts to scale the efficiency and flexibility of the financial landscape, while supporting financial inclusion and offering solutions to various segments of the market.
Representatives from HyperPay highlighted that the licence enables the company to offer secure and simplified payment services to businesses. Additionally, it contributes to the goals set out by Saudi Arabia’s Vision 2030, which aims to scale the financial system’s efficiency and support digital transformation.
In March 2023, HyperPay announced its plans to go public via an initial public offering (IPO) in Saudi Arabia by 2025. This move is part of the company’s broader expansion strategy within the Saudi Arabian and MENA fintech markets. HyperPay aims to become the preferred global payment tool by diversifying its product and service offerings.
