Riyadh - Mubasher: The Saudi Central Bank (SAMA) announced licensing HyperPay Inc. Saudi Arabia for Information Systems Technology to practice payment services via e-wallet, bringing the total number of companies currently licensed to practice payment services in the Kingdom to 27.

This decision comes within the framework of the Saudi Central Bank’s efforts to support and empower the payments sector; to raise the level of effectiveness and flexibility of financial transactions, and encourage innovation in the financial services provided; with the aim of enhancing the level of financial inclusion, and the access of financial services to all segments of society.

The Saudi Central Bank stressed the importance of dealing with licensed or authorized financial institutions, which can be verified by visiting the Central Bank’s website.