Mastercard and HyperPay have teamed up to change how small and medium-sized enterprises (SMEs) handle payments in the Middle East and North Africa (MENA).
This partnership aims to deliver innovative commercial card solutions in key markets like Saudi Arabia, the United Arab Emirates, and Qatar. Such collaboration promises to provide SMEs with easier, safer, and more efficient ways to manage their expenses and grow their businesses.
Mastercard brings global expertise to local markets
Mastercard leverages its global payment expertise and technology to support this initiative in the MENA region.
According to Dimitrios Dosis, President for Eastern Europe, Middle East, and Africa at Mastercard, “Our collaboration with HyperPay aims to empower merchants, SMEs, and the wider business community with game-changing commercial cards that safeguard their futures and foster economic growth.”
This effort comes as 93% of Saudi SMEs express confidence about the year ahead and 99% already accept digital payments, showcasing a digitally ready market. Mastercard’s broad reach and innovative technology will enable businesses to move quickly to digital payment methods, streamlining expense management.
HyperPay expands digital payment access for SMEs
HyperPay, a leading payment gateway provider in the Middle East, recently received Electronic Money Institute (EMI) license approval to support SME payment digitisation.
Muhannad Ebwini, Founder and CEO of HyperPay, stated, “We have dealt with the challenges businesses face when it comes to accepting digital payments and are building products that meet the evolving needs of our platform customers across all verticals.”
Mastercard’s relationship will deliver secure and scalable commercial card services to SMEs, improving the region’s financial operations and e-commerce growth. Their skills aim to help millions of MENA retailers and enterprises transition from cash to digital payments.
This partnership represents substantial progress for small and medium-sized enterprises (SMEs) in the MENA region, as it offers them contemporary payment instruments tailored to their requirements in a burgeoning digital economy.
In the competitive commercial landscape, the initiative will improve businesses’ ability to manage their expenditures and unlock the potential for expansion.