The Business Year

Muhannad Ebwini



CEO, HyperPay


Muhannad Ebwini is the co-founder and CEO of HyperPay and he has led the business to its current position as a one of the Middle East’s fastest growing and most successful online payment businesses. Ebwini has more than 18 years of experience in the online, e-commerce, gaming, and payment industries, having successfully grown the business of OneCard, a leading regional alternative payment mechanism between 2004 and 2010. During his tenure at OneCard, he spearheaded the development of the online payment and e-commerce industry in the MENA region. Ebwini is a certified e-commerce consultant (CEC). He holds an MBA in management and international business from NYIT and a bachelor’s in computer software engineering from Princess Sumayya University.

TBY talks to Muhannad Ebwini, CEO of HyperPay on finance sector.

Can you walk us through HyperPay’s core business model and how it facilitates online transactions?

In the beginning, we defined ourselves as a payment gateway to process both online payments through card schemes, such as Visa and Mastercard, and local payment systems such as Sadad and Mada. At present, our system works between banks, the card scheme, the merchant, and the end user. When the end user reaches the point of payment via credit card and submits the payment form, we process the information and run a due diligence check on the card details, which includes a 120-point fraud check. We then pass on the information to the acquiring bank; that response is sent to the card scheme to confirm and process the purchase. The merchant and the purchaser are also informed of the purchase confirmation or rejection. Remarkably, all of this is done in two seconds.

What products do you have in the pipeline, and how do they fit into your growth strategy going forward?

We work with nine out of 11 banks engaged in acquiring; we will soon sign with the other two banks and represent the entire banking network in Saudi Arabia, a feat we have already achieved in Jordan. Our next plan is to expand into Egypt. Moreover, with our network of banks, which we call solutions network, we will begin to launch new products. While we continue to develop APIs to easily connect merchants on payment gateways and enhance our anti-fraud system, we are developing new invoicing system to tap into the large market of Instagram shopping in Saudi Arabia. We also created a mobile application that helps merchants track transactions and sales. In terms of clients, we have developed a customized solution for hotel invoicing in Jordan, where we usually test products before launching them into other markets, which in this case would be the UAE and Saudi Arabia.



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