Mastercard and HyperPay Launch HyperSpend for SME Expense Control in Saudi Arabia

Mastercard and HyperPay have launched HyperSpend, an integrated spend management platform for Saudi Arabian SMEs. This collaboration allows small businesses to issue multi-currency corporate prepaid cards with real-time controls. For fintech professionals, this represents a significant push into the Kingdom’s rapidly digitizing SME sector, addressing critical friction points in corporate expense governance and cross-border transactions.

What was announced

HyperSpend is designed as a comprehensive spend management solution that leverages HyperPay’s Cards-as-a-Service (CaaS) infrastructure alongside Mastercard’s global payment network. The platform targets the more than 1.8 million small businesses currently operating in Saudi Arabia. It allows these enterprises to instantly issue both virtual and physical multi-currency Mastercard cards on demand.

Key features include the ability to fund cards in real time, set granular spending limits, and automate approval workflows. To address the administrative burden often associated with corporate banking, HyperSpend utilizes automated Know Your Customer (KYC) and Know Your Business (KYB) capabilities for a fully digital onboarding experience. This streamlined verification process is intended to eliminate manual hurdles, allowing SMEs to activate accounts and begin transacting with minimal friction.

Management of these cards is handled through self-service dashboards and application programming interfaces (APIs), providing finance teams with real-time visibility into corporate spending. The platform also includes advanced analytics and reporting tools to simplify reimbursement and reconciliation processes. Additionally, cardholders may be eligible for specific cashback incentives during limited-period market campaigns when made available. The initiative aligns with Saudi Arabia’s Vision 2030, which targets a rise in SME contribution to the national GDP to 35% by the end of the decade.

"HyperPay is committed to supporting the digital transformation of businesses in Saudi Arabia while boosting their productivity and resilience. Our collaboration with Mastercard positions us as one of the unique fintech companies in the Kingdom to offer a comprehensive CaaS and spend management solution tailored to the needs of SMEs and growing enterprises. 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 & CEO, HyperPay.

The companies involved

HyperPay is a Middle Eastern payment service provider that has established itself as a key player in the region's fintech landscape. The company offers a wide range of payment processing solutions and has recently expanded its capabilities into the Cards-as-a-Service (CaaS) space. Based in Saudi Arabia, HyperPay focuses on providing integrated financial technology that supports the digital transformation of local and regional enterprises. FF News has previously covered the company across six different reports as it scales its operations in the Middle East.

Mastercard is a global technology company in the payments industry, connecting consumers, financial institutions, merchants, and governments across more than 210 countries and territories. In the Middle East, the company has been active in developing regional SME resilience platforms, such as "Built Small, Moving Strong," to help businesses navigate market disruptions. Mastercard's involvement in this launch is part of its global commitment to connect 500 million individuals and small businesses to the digital economy by 2030. Within the Saudi market, Mastercard operates under the leadership of Saud Swar, who serves as Senior Vice President for KSA | Bahrain | Jordan & Other Levant. The company continues to leverage its global network to facilitate localized financial solutions in emerging digital economies.

What FF News has reported before

Mastercard has been consistently active in the Middle East and North Africa (MENA) region, frequently partnering with local institutions to bolster SME ecosystems. FF News recently covered how Bank Audi and Mastercard to Support 10,000 Lebanese Entrepreneurs via neo Business, an initiative aimed at empowering entrepreneurs through digital tools. Similarly, the payment giant has worked to expand the infrastructure of digital payments in the region, as seen when Mastercard and Banque du Liban Partner to Drive Digital Payment Acceptance in Lebanon. Beyond the Middle East, Mastercard continues to refine its regional leadership to meet local demands, recently seen when Mastercard Names Sidney Massunaga as Country Manager to Lead Mexico Strategy. These moves highlight a broader corporate strategy of localized integration within high-growth markets.

What this means

The launch of HyperSpend signals a shift in the Saudi fintech market from simple payment processing to integrated financial management. By bundling card issuance with automated expense governance, Mastercard and HyperPay are directly challenging traditional corporate banking models that have historically underserved the SME sector. The move puts pressure on local incumbent banks to modernize their digital onboarding and real-time reporting capabilities. As Saudi Arabia pushes toward its Vision 2030 goals, the primary question for the sector is whether these integrated platforms can successfully bridge the gap between informal cash-based operations and a fully transparent, digital financial ecosystem.