Mastercard HyperPay HyperSpend
The HyperSpend platform launch in Saudi Arabia marks a new collaboration between Mastercard and HyperPay to deliver corporate spend management tools for small and medium enterprises. Announced in Riyadh, the service allows businesses to issue corporate prepaid cards and oversee operational expenses through a centralized system.
Through the Cards-as-a-Service infrastructure provided by HyperPay and the global network of Mastercard, enterprises can issue multi-currency cards on demand. Furthermore, finance teams can fund cards in real time, apply spending limits, and automate approval workflows while tracking expenses via reporting dashboards.
Features of the HyperSpend Platform Launch
The solution provides a digital onboarding procedure using automated verification checks for corporate clients. Specifically, integrated Know Your Customer and Know Your Business protocols help reduce manual administrative steps in business banking, allowing firms to start transactions without delays.
In addition, companies can issue both virtual and physical commercial cards, managing them through self-service interfaces and application programming interfaces. Eligible cardholders will also receive access to promotional cashback incentives during a limited-period market campaign.
Corporate Expense Control and Compliance
HyperSpend aims to lower operational overheads for smaller enterprises by simplifying reimbursement workflows and reconciliation tasks. The system introduces multi-level approval hierarchies to strengthen financial governance and give organizations real-time oversight over corporate outflows within the broader economy.
“At Mastercard, we work together with key stakeholders across the financial ecosystem to empower businesses big and small to thrive in the digital world. We are delighted to join forces with HyperPay, combining our collaboration to deliver tangible benefits to companies at scale.”
Saud Swar, Country Manager, Saudi Arabia, Bahrain, Jordan and Levant, Mastercard
Role in Saudi SME Sector Growth
The expansion aligns with national economic priorities in Saudi Arabia, where over 1.8 million small businesses currently operate. Saudi Vision 2030 outlines a target to increase the contribution of small and medium enterprises to national gross domestic product to 35% by 2030.
“By bringing card issuance, expenses, controls, reporting and reconciliation together on a single platform, HyperSpend will enable Saudi businesses to save time, increase financial accuracy, strengthen governance and accelerate digitization.”
Muhannad Ebwini, Founder and CEO, HyperPay
Moreover, the initiative connects with regional financial programs, including the Built Small, Moving Strong resilience platform developed to assist regional firms with operational continuity and supply chain administration in modern apps environments.
Broader Financial Inclusion Goals
Mastercard has established an international objective to connect and protect 500 million individuals and small commercial entities by 2030. Consequently, introducing corporate payment tools in the Kingdom directly supports enterprise digitization and provides local firms with structured controls over commercial expenditures.
