A strategic partnership between MasterCard and HyperPay to expand digital payment channels in the MENA region

This partnership will contribute to the provision of multi-channel payment solutions to new customer segments and support the adoption of innovation within the payment systems in the Middle East and North Africa region.

Riyadh, Saudi Arabia: MasterCard, the world leader in payment solution technology, has announced the signing of a strategic partnership with HyperPay, the fastest growing electronic payment gateway in the Middle East and North Africa, with its headquarters in the Kingdom of Saudi Arabia, with the aim of to support acceptance. of digital payment solutions across the region.

As part of the partnership, MasterCard will make a strategic investment in Hyperpay to further enhance the delivery of its proven capabilities and identify new technologies that can be applied in practical use cases.

Through this partnership, MasterCard seeks to increase access to its advanced capabilities and introduce new technologies to suit customers’ needs. Through its omnichannel approach, Mastercard leads innovation in the payments industry, offering high-quality multiple payment solutions that enable individuals and businesses to make and receive payments through any payment channel of their choice.

This collaboration will contribute to the provision of new advanced payment technology that will allow the business sector, government agencies and small and medium-sized companies to move from cash payments to the use of advanced, secure and advanced payment systems by taking advantage of the innovative capabilities of MasterCard and HyperPay .

Commenting on the partnership, Demetrius Dossis, Head of MasterCard Eastern Europe, Middle East and Africa, said: “The growth of the payment ecosystem is critical to the development of a robust digital economy that is more inclusive of We are pleased to enter into this partnership with HyperPay as we work together to provide consumers with the opportunity to access innovative, seamless and secure payment solutions. Through this shared vision, MasterCard and HyperPay have the opportunity to reach the region’s potential unleashed by using technology to pave the way for a streamlined, efficient and more inclusive future. “

Muhannad Ebwini, Founder and CEO of HyperPay, said: “We are delighted with this partnership with MasterCard. Building strong partnerships has been an essential part of our mission since our inception, and we are committed to furthering our business. expanding as payments to offer a full range of financial products.We have previously addressed the challenges that businesses face when it comes to accepting digital payments, and therefore we aim to introduce products that meet the meeting the growing needs of our platform customers across all sectors, we are confident that e-commerce will continue to grow as digital platforms are increasingly relied upon as the ideal way for consumers to shop worldwide, and seamless payment solutions will provide the opportunity to to deliver advanced consumer experiences. ”

The “Economy 2022” report issued by the MasterCard Institute of Economics predicted that electronic retail would maintain 20% of the digital transformation that had recently taken place; While a recent MasterCard study showed that 61% of consumers in the Middle East and North Africa confirmed that they avoid dealing with companies that do not accept any type of electronic payment.

This strategic investment will strengthen Mastercard’s position as the largest provider of technology solutions and empowerer of digital transformation. MasterCard, along with its fintech partners, is reforming digital payments and virtual banking across the region.

These efforts are in line with the company’s omnichannel strategy to drive innovation in the payments sector across the region across multiple digital pay channels, enabling individuals and organizations to send and receive money whenever and wherever they want, whether using charts or through omnichannel accounts.

It is noteworthy that HyperPay has been associated with the largest network of banks in the Middle East and North Africa since 2014, as the company seeks to enable Internet companies to accept online payments in a flexible, easy and secure way and to manage.

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About MasterCard

MasterCard (NYSE: MA), www.mastercard.com is a global technology company specializing in payment solutions. Our mission is to connect and enable an inclusive digital economy that benefits everyone, anywhere, by making transactions that are secure, simple and smart with ease. By using secure data and networks, and fostering passion-based partnerships, our innovations and solutions help individuals, financial institutions, governments and businesses to reach their full potential. Our culture and all the work we do inside and outside the company is based on our DQ, or DQ. Through our network spanning more than 210 countries and territories, we work to build a sustainable world that offers invaluable potential to all.

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