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HyperPay is revolutionizing B2B fintech in Saudi Arabia and beyond

HyperPay is redefining its brand and offerings as a comprehensive B2B fintech platform and moving beyond solely offering payment solutions.

The initial step for international expansion and becoming a premier B2B fintech platform worldwide is launching Hyper Hospitality in Singapore with further expansions to other countries planned in the pipeline in the foreseeable future. Along with the market demand HyperPay has received showcased by multiple international acquisition candidates and investment proposals due to the pending EMI license—a testament to its value in the competitive Saudi market.

Regional expansion plans are undergoing and navigating the regulatory environments and maintaining stability have been huge challenges, specifically in foreign markets such as Egypt. In Egypt, the rules and regulations are constantly changing, so the strategic decision to halt operations there and shut down the office to maintain the growth of HyperPay was warranted.

In contrast, Qatar is a significantly more promising market where replicating the large-scale government solutions that have been successfully implemented in other jurisdictions is feasible. Currently, a major project in Qatar is almost underway. This specific project will not match the scale of those in Saudi Arabia—however, it is an incredible opportunity.

The growth and competitive advantage of HyperPay

The strategic importance of focusing on high-value, impactful projects in smaller markets like Qatar is what fuels growth at HyperPay. To put this into perspective, approximately USD300 million annually is processed in Jordan, while in Saudi Arabia it’s about USD1.35 billion every month. Within a timeframe of eight to ten days the Saudi Arabia market surpasses the entire month’s volume in the Jordan market, and in a few days, we cover the total volume of Iraq.

Electronic Money Institution License

Hyperpay is applying for an EMI license in Saudi Arabia to transform our branding strategy.

Regulations restrict majority foreign ownership. HyperPay is open to substantial minority investments in alignment with compliance and local mandates that appeal to global investors.

The Saudi Arabia Monetary Authority (SAMA) imposes strict regulations that have both hindered and shielded HyperPay’s operations. Despite the regulations causing a delay to secure the necessary licensing, they have produced stringent barriers for international companies wanting to penetrate the Saudi market. Since the regulatory environment is tough and challenging it offers HyperPay a strategic advantage. Once the license is acquired, the anticipation is to be several years ahead of any new competition entering the Saudi market. The sustainable competitive edge will not rest primarily on navigating regulatory landscapes but includes strategic innovation and localization of HyperPay’s B2B fintech offerings. The aggressive price strategies from international players in the past caused HyperPay to transition from traditional payment processing to creating innovative, localized products suited for the Saudi market.

The core team possesses unwavering loyalty and stability which plays a vital role in HyperPay’s long-term success

With practically zero turnover, the consistency and years of expertise of our team members, many of whom have been working with the company since its inception, empower and refine our day-to-day operations and strategic direction for the future. This internal strength is indispensable as the core team continues to innovate, adapt, and navigate the competitive fintech landscape.

HyperPay’s strategic priorities for 2025 is to focus solely on developing cutting-edge B2B fintech products. A vital aspect of our strategy is collaborating with the Central Bank and Saudi Payment. Open banking is evolving rapidly as a landscape and is anticipated to revolutionize payment initiation processes. As regulations grow and expand to develop open banking frameworks, there will be a colossal expansion in B2B fintech solutions. With a keen eye on the future, the impact of these advancements will be radical, greatly transforming the fintech ecosystem in Saudi Arabia and beyond. HyperPay has one focus to remain committed to staying at the forefront of financial technology and taking advantage of emerging opportunities that arise in this competitive, thrilling sector.

Revolutionizing B2B fintech in Saudi Arabia

Since the inception of HyperPay in 2014, it has been one of the fastest-growing online payments companies in the Middle East and has grown every year consecutively to move beyond offering payment solutions.

Muhannad Ebwini

Co-founder & CEO, HyperPay

“HyperPay is making significant strides in redefining itself as a comprehensive B2B fintech platform, moving beyond mere payment solutions. This transformation is marked by our application for the Electronic Money Institution (EMI) license and a shift in our branding strategy. ”

Part of HyperPay’s long-term strategy is to expand its technology offerings as a B2B fintech company in Saudi Arabia and beyond.

In 2023, HyperPay exceeded expectations and grew 59% in volume, transaction numbers, revenue, and net profit over the previous year. By August 2024 HyperPay had already surpassed the previous year’s total figures. This year, the projected growth rate is near 100%. Consumer wallets such as Barq, Tiqmo, and Mobily Pay have played a vital role in the growth of the company by generating consistent, significant traffic, enhanced by competitive cashback offers. These wallets have improved the experiences for end users by integrating robust solutions for money transfers and remittances outside of Saudi Arabia, which spearheads the growth trajectory that’s currently in place.

The recent application for the Electronic Money Institution (EMI) will bolster HyperPay as the preeminent company for rolling out new B2B fintech products once its approved.

Over the last five years, Saudi Arabia has established its reputation in the fintech industry by developing fintech into a thriving industry producing rapid growth, offering a diverse range of services, and contributing greatly to its national economy and HyperPay is thrilled to be at the forefront of these new developments.

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