Riyadh – Mubasher: HyperPay, the Saudi payments services provider in the MENA region, signed strategic memorandums of understanding (MoUs) with Mastercard and Mozn at the Money 20/20 Middle East conference.
These partnerships are expected to promote digital payments innovation and enhance transaction security across Saudi Arabia, the UAE, and Qatar, according to a press release.
They also anchor HyperPay’s position in leading the region’s fintech development and supporting broader initiatives under Saudi Vision 2030 to create a secure digital economy.
Muhannad Ebwini, Founder and CEO of HyperPay, said: “Our collaboration with Mastercard is a milestone in HyperPay’s mission to promote digital inclusion and empower SMEs across Saudi Arabia, the UAE, and Qatar with modern payment solutions.”
He added: “At the same time, our integration of Mozn’s Focal platform enhances our fraud prevention capabilities and builds trust with every transaction. Together, these MoUs strengthen our mission to deliver innovative and more secure payment experiences that will transform the way businesses handle their financial operations in a rapidly evolving digital economy.”
In partnership with Mastercard, HyperPay will issue business cards tailored to the needs of small and medium-sized enterprises (SMEs) and merchants across Saudi Arabia, the UAE, and Qatar.
The cards are developed to offer scalable, secure, and future-proof payment solutions for businesses.
This collaboration comes after HyperPay’s recent approval of its Electronic Money Institute (EMI) license from the Saudi Central Bank (SAMA), enabling the company to digitize SME payments more effectively.
As for its agreement with Mozn, the partnership aims to incorporate Mozn’s innovative Focal platform into HyperPay’s ecosystem. It will enhance fraud prevention and financial crime compliance across HyperPay’s digital transactions.
