AI
Saudi Arabia
UAE
EgyptHyperPay Transforms UAE Payments with Tap-on-Phone Tech Revolution
2 min
HyperPay's Tap-on-Phone lets UAE businesses accept payments via Android smartphones.
This tech aids small businesses by removing need for traditional point-of-sale machines.
Fintech startups in the region secured $700 million in 2024, indicating investor confidence.
HyperPay plans to expand into Saudi Arabia and Egypt, riding a wave of fintech investment.
The UAE's shift to a cashless society is advancing rapidly, making digital payments ubiquitous.
Paying with contactless just got simpler for businesses in the UAE, as Saudi fintech HyperPay introduces its Tap-on-Phone solution—turning regular Android smartphones into payment terminals. This new tech means local merchants won’t need traditional point-of-sale machines, and customers can now tap to pay directly on the seller's own phone.
The innovation is particularly good news for smaller businesses and SMEs, providing an affordable, fuss-free way to accept payments through credit and debit cards, as well as digital wallets. It comes at a time when the UAE government is actively pushing towards a cashless future, encouraging digital transactions across the board.
It's been a lively year already across the region for fintech startups. According to a report by Wamda, around 119 fintech businesses have snagged roughly $700 million in funding during 2024 alone. That's a healthy chunk—about 30%—of this year's overall startup funding, signalling continued investor confidence in fintech solutions.
HyperPay isn’t looking to stop here, either. Plans are on the table to expand this mobile payment feature into nearby markets, including Saudi Arabia and Egypt. Given the amount of investment pouring into the ecosystem—MENA startups raised over $494 million this past February alone, with support from hubs like Abu Dhabi’s tech accelerator Hub71—it seems clear we're seeing just the tip of the iceberg.
A mate at Arageek onced remarked that payment solutions were evolving so swiftly, soon we might find even our local falafel stand doing away with coins and notes. While that vision might have been lighthearted at the time, clearly we're not far off now. It seems the day where we tap to pay everywhere isn't just around the corner—it's already here.
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