HyperPay has introduced HyperSpend, a next-generation digital spend management platform developed in collaboration with Mastercard. The solution targets small and medium sized enterprises in Saudi Arabia by combining card issuance and expense management in a single integrated environment. The announcement, made on 15 September 2026 in Riyadh, highlights a growing focus on digital financial tools for the Kingdom's SME sector.
Unified Card Issuance and Expense Management
HyperSpend uses HyperPay's Cards-as-a-Service infrastructure and Mastercard's global network to give businesses instant access to multi-currency prepaid cards. Companies can issue both virtual and physical Mastercard cards on demand and manage them through self-service dashboards and application programming interfaces. The platform supports real-time funding, spending limits, automated approvals, and transaction monitoring through advanced analytics and reporting tools.
Simplified Digital Onboarding
The platform offers a fully digital onboarding experience through automated Know Your Customer and Know Your Business capabilities. This approach streamlines account opening and verification, allowing SMEs to activate accounts quickly and begin transacting with minimal friction. Eligible HyperSpend cardholders may also have access to special cashback incentives on purchases made with their cards during a limited-period market-wide campaign when available.
Governance and Real-Time Visibility
HyperSpend is designed to reduce operational overheads and improve expense governance for growing businesses. It provides multi-level approval workflows, simplified reimbursement and reconciliation processes, and real-time visibility into corporate spending for finance teams. By bringing card issuance, expenses, controls, reporting and reconciliation together on a single platform, the solution aims to increase financial accuracy and accelerate digitization.
Mastercard Perspective
Saud Swar, country manager for Saudi Arabia, Bahrain, Jordan and other Levant markets at Mastercard, said the collaboration reinforces Mastercard's commitment to empowering businesses in the digital economy. He noted that the initiative builds on the company's regional SME resilience platform, which helps small businesses across the Middle East sustain operations and enhance digital capabilities. Swar added that working with HyperPay can deliver tangible benefits to companies at scale.
HyperPay Perspective
Muhannad Ebwini, founder and chief executive officer of HyperPay, said the collaboration positions the company as one of the unique fintech firms in the Kingdom offering a comprehensive Cards-as-a-Service and spend management solution for SMEs and growing enterprises. He emphasized that HyperSpend can help Saudi businesses save time, strengthen governance, and improve financial accuracy. Ebwini also noted that the platform supports the digital transformation of businesses in Saudi Arabia while boosting their productivity and resilience.
Saudi Market Context
Saudi Arabia's SME ecosystem is a central part of the Kingdom's economic diversification agenda, and digital payment tools are becoming increasingly important for business efficiency. HyperSpend enters this market as a locally developed platform backed by Mastercard's global infrastructure, giving it a distinct position among corporate spend solutions. The collaboration illustrates how fintech partnerships can address the operational needs of smaller enterprises while supporting broader national digitization goals.
HyperSpend enters the Saudi market as a practical response to the growing demand for integrated spend management among small and medium sized businesses. Its combination of digital onboarding, real-time controls, and multi-currency card issuance can help companies reduce administrative complexity and improve financial oversight. As adoption of fintech services accelerates in the Kingdom, partnerships of this kind are likely to play a larger role in shaping the future of corporate finance.