Riyadh, Saudi Arabia – 24 October 2024- HyperPay, the largest and fastest-growing payments services provider in the MENA region, has formed an extended partnership with ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, to facilitate AI-driven payment innovations across the MENA region. The partnership was signed on the sidelines of HyperPay’s participation in Seamless Saudi Arabia 2024, held at the Riyadh Front Exhibition Centre between October 22 and 24.
HyperPay provides an all-in-one payment platform that empowers eCommerce and retail providers to seamlessly accept payments and rapidly grow while efficiently managing risks and tracking results. The company’s one-click payment solution ensures a highly convenient and efficient payment experience by enabling customers to complete transactions at the click of a button while adhering to the Saudi Arabian Monetary Agency’s stringent regulations for safeguarding sensitive payment information.
The partnership enables HyperPay to leverage ACI’s Payments Orchestration Platform to streamline all payments within a single platform, ensuring optimal conversion rates and minimal operational costs. Moreover, the company will also utilise ACI’s Payment Intelligence and Fraud Orchestration Platform which is integrated with AI and machine learning, to automate fraud protection and access key analytics on consumer behaviours, thereby enhancing interactions, reducing friction and bolstering acceptance rates.
ACI Worldwide’s 2024 Prime Time for Real-Time report has positioned the Middle East as the fastest-growing real-time payments market for the second year in a row. Within this dynamic landscape, Saudi Arabia is emerging as one of the region’s largest economies and digital payment adopter, with the nation’s real-time payment transaction volume poised to grow from 430 million in 2023 to 1.3 billion by 2028. This reflects the objectives of Saudi Vision 2030, a strategic framework that aims to nurture a prosperous economy through digital transformation and financial inclusion while achieving 70 per cent of non-cash transactions by 2030.
Muhannad Ebwini, Founder and CEO of HyperPay said: “HyperPay is at the forefront of Saudi Arabia’s cashless revolution, and we are fully dedicated to advancing digital payment innovation, harnessing AI to elevate payment experiences, and ensuring robust security of all transactions. Our partnership with ACI Worldwide supports our global and forward-looking outlook to expand into new markets and introduce new products and services with speed and agility.”
Santhosh Rao, Senior Vice President, MEASA, ACI Worldwide said: “ACI is proud to partner with HyperPay to revolutionise digital payments across the MENA region. Through this partnership, ACI and HyperPay aim to empower customers by offering fast, secure and frictionless payment experiences. The partnership further underscores our joint strategic vision of leveraging advanced AI-driven technologies to promote innovation and positively shape the future of digital payments across the MENA region and beyond.”
