Mastercard has collaborated with HyperPay, the leading payment gateway provider in the Middle East and North Africa (MENA), to accelerate the digital transformation of the Saudi commercial payments landscape.
The collaboration will see Mastercard and HyperPay drive the modernization of business payments across the region, with the two entities joining hands to issue 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.
Leveraging Mastercard’s global reach, payment expertise, and innovative technology, the collaboration will empower merchants and Small and Medium-sized Enterprises (SMEs) to streamline expense management and unlock greater efficiency in their financial operations. HyperPay also received the Electronic Money Institute (EMI) license approval to support digitizing SME payments.
Muhannad Ebwini Founder & CEO HyperPay
“Since 2022, we have worked closely with Mastercard to accelerate the digital transformation of the payment ecosystem in the region. 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.”
“With thriving digital economies being built on the foundation of an innovative payments ecosystem, our collaboration with HyperPay aims to empower merchants, SMEs, and the wider business community with game-changing commercial cards that safeguard their futures and foster economic growth. In Saudi Arabia, where 93 percent of SMEs are confident about the year ahead and 99 percent already accept digital payments, the timing could not be more pivotal,” said Saud Swar, Country Manager – Saudi Arabia, Bahrain, Jordan, and other Levant, Mastercard.
The collaboration will enable SMEs to achieve greater resiliency, stability, and long-term prosperity, supporting businesses to accept payments more efficiently and deliver digital commercial experiences.
The company stated that the new commercial cards will be launched in Saudi Arabia and then rolled out across the UAE and Qatar.
