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Saudi Arabia-based payment gateway HyperPay has obtained a permit from Saudi Payments to enable new ‘mada’ services for its merchants in Saudi Arabia.
The move will address the growing needs of local ecommerce merchants in the Kingdom, the company said in a statement. HyperPay claims it will make payments easier and more secure and offers pre-saving customer card details, and other billing services.
The payment gateway currently has over 2,000 Saudi merchants on board its platform, and it aims to expand across the Kingdom. Company officials stated that the Saudi market is witnessing significant growth in ecommerce, as the value of sales via ‘mada’ cards jumped during the third quarter of 2021 by 89%.
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