 11-Jan-18, Arabian Business

2017 was a yet another good year for e-payment company HyperPay, full of challenges due to the surrounding regional events, but with growth of around 140 percent.

Image: HyperPay

HyperPay is the fastest growing online payment service provider in the MENA region. It has opened a new office in Cairo. 80 percent of the Middle East market is distributed among four cities: Dubai, Abu Dhabi, Cairo and Riyadh.

CEO Muhannad Ebwini believes that the e-commerce sector will grow dramatically in 2018, throughout the region but especially in Saudi Arabia, where there are only around four million credit cards. The authorities are expected to allow debit ATM cards to be allowed for e-commerce, which overnight will add 24 million cards to the system.

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 Financial Services insights