Riyadh, Saudi Arabia – The Saudi Central Bank (SAMA) has announced the licensing of HyperPay Inc. Saudi Arabia for Information Systems Technology, enabling the company to provide payment services through electronic wallets. This latest approval brings the total number of licensed payment service providers in the Kingdom to 27, reflecting SAMA’s continued efforts to enhance the financial ecosystem.
The move aligns with SAMA’s broader strategy to support and empower the payments sector by fostering innovation, improving the efficiency of financial transactions, and driving flexibility within the financial services industry. These initiatives are integral to promoting financial inclusion and ensuring that financial services are accessible to all segments of society.
In its announcement, SAMA emphasized the importance of dealing only with licensed or authorized financial institutions. Consumers can verify the legitimacy of service providers by consulting the list available on the Saudi Central Bank’s official website.
The licensing of HyperPay underscores the Kingdom’s commitment to advancing the digital economy and creating a robust, inclusive financial landscape.
