HyperPay gets regulator approval to boost e-commerce in Saudi Arabia

HyperPay claims it will make payments easier and more secure

  
Image used for illustrative purpose. businessman working with laptop computer and digital tablet and smart phone in modern office with virtual icons interface

Image used for illustrative purpose. businessman working with laptop computer and digital tablet and smart phone in modern office with virtual icons interface

Getty Images/Busakorn Pongparnit
DUBAI: Local payment gateway HyperPay has obtained a permit from Saudi Payments to activate new “mada” services for its merchants in Saudi Arabia.

The move will address the growing needs of local e-commerce merchants in the Kingdom, the company said in a statement.

“The Saudi market is witnessing a significant growth in e-commerce, as the value of e-commerce sales via ‘mada’ cards in the Saudi market jumped during the third quarter of this year by 89 percent on an annual basis,” Muhannad Ebwini, chief executive officer at HyperPay, said.

HyperPay claims it will make payments easier and more secure and offers pre-saving customer card details, and other billing services.

The payment gateway currently has over 2,000 Saudi merchants on board its platform, and it aims to expand across the Kingdom.

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