Mastercard and HyperPay collaborate to digitalize payments and cards in Saudi Arabia, enabling SMEs to access the secure and scalable digital financial capabilities.

Mastercard has also declared a strategic partnership with HyperPay, the most popular payment gateway solution in the Middle East and North Africa, to transform the commercial payment and card system in Saudi Arabia. The alliance will bring new business card offerings to Saudi Arabia and then to the UAE and Qatar.

The partnership between Mastercard and HyperPay will create a global-regional partnership to enable businesses and SMEs to access secure, scalable and future-ready card and payment services more easily. Such solutions will facilitate cost control, efficiency, and growth in a more digital economy.

Another step that HyperPay has taken towards digitizing SME payments and cards in the region is the acquisition of an Electronic Money Institute (EMI) license, which supports it in the digitalization of SME transactions and cards. Since SMEs are the cornerstone of the Saudi Arabian economy, the partnership is timely, as 93 percent of companies are confident in their further growth and 99 percent already accept digital payments.

Saud Swar, the Country Manager of Saudi Arabia and the Levant at Mastercard, described it as providing game-changing commercial cards that would entail economic resilience and long-term prosperity. The CEO of HyperPay, Muhannad Ebwini, stated that the cooperation is a major breakthrough towards faster digital transformation in the region.

Mastercard and HyperPay have the potential to transform the payment and card industry in the Middle East with innovation and a strong infrastructure to support their joint venture.