Hyperpay partners with Paymentology in Saudi Arabia

Hyperpay and Paymentology are looking to evolve with the needs of businesses and consumers in the growing fintech sector in the region

Hyperpay has selected Paymentology to expand and improve its payments services in Saudi Arabia.  

Based in Saudi Arabia, Hyperpay is an online payment service provider. It aims to become a one-stop payment solution for businesses, governments and SMEs across the Middle East. 

The fintech currently offers payment processing, risk and fraud management, and invoicing solutions, amongst its products and services. It was founded in 2014 by Muhannad Ebwini.

Last year, Hyperpay secured $36.7m in funding through a round led by Mastercard, with investments from Amwal Capital Partners and AB Ventures. 

It has a presence in Jordan and Saudi Arabia, and is set to expand to Egypt, Bahrain, Iraq, and Oman. 

Hyperpay and Paymentology are looking to evolve with the needs of businesses and consumers in the growing fintech sector in the region.  

The fintech industry in the MENAP region is expected to increase from $1.5b in 2022 to $4.5b in 2025.  

This growth also aligns with Saudi Arabia’s Vision 2030, to diversify and digitise the economy.  

Hyperpay is one of the top payment providers in MENA. And is contributing to the shift towards cashless payments in the region.  

Ebwini said the fintech’s vision is a direct response to the pressing needs of businesses and government agencies, who demand instant, user-friendly payments anywhere, anytime.  

He said: “We’re proud to introduce a versatile offering tailored to both our regional dynamics and the stimulation of cross-border trade.  

“Thus, our choice to partner with Paymentology, a leading global technology player, becomes paramount in this transformative journey.” 

Nauman Hassan, regional director at Paymentology, said: “Paymentology is proud to be associated with Hyperpay’s Saudi Arabia launch.  

“With a strong foothold in the Middle East, particularly in the kingdom, where fintechs and neobanks have sought our expertise in next-generation payments platforms, we’re well-equipped to facilitate Hyperpay’s rapid business growth.  

“We firmly believe that Hyperpay’s introduction of advanced payment services aligns perfectly with the market’s needs.” 

Image: © Mohamed Hussain Younis via Canva

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.