Mubasher: Mastercard forged a partnership with HyperPay to accelerate the digital transformation of the Saudi commercial payments landscape, according to a press release.
The two parties will join forces to enhance business payments across the region by issuing commercial cards in Saudi Arabia and other key markets, including the UAE and Qatar.
Mastercard and HyperPay aim to empower businesses across the region with seamless access to secure, scalable, and future-ready commercial card offerings that drive growth and support the needs of a rapidly evolving digital economy.
The partnership will leverage Mastercard’s global reach, payment expertise, and innovative technology to empower merchants and small and medium-sized enterprises (SMEs), streamline expense management, and unlock greater efficiency in their financial operations.
On its part, HyperPay received the Electronic Money Institute (EMI) license approval to boost digitizing SME payments.
Saud Swar, Country Manager – Saudi Arabia, Bahrain, Jordan and other Levant, Mastercard, noted: “In Saudi Arabia, where 93% of SMEs are confident about the year ahead and 99% already accept digital payments, the timing could not be more pivotal.”
Muhannad Ebwini, Founder and CEO of HyperPay, indicated: “Our latest collaboration marks another significant step forward on our collective journey towards regional growth, enabling merchants and enterprises to enhance business performance with a range of innovative payment solutions.”
The collaboration will enable SMEs to achieve greater resiliency, stability, and long-term prosperity, enabling businesses to accept payments more efficiently and deliver digital commercial experiences.
