One of the largest Middle Eastern online payment platforms, HyperPay, has been in the front lines during the pandemic lockdown helping the businesses continue their operations. The company has seen a growth of over 150 percent during the lockdown period.
The spread of the coronavirus globally has led to companies closing down and laying off their workers as they try to cut their losses. Businesses are also looking at solutions to remotely continue with their trading. The handling of transactions for businesses during the lockdown period that requires social distancing has been very difficult. However, businesses are finding creative ways to transact.
HyperPay growth
This has led to the growth of companies such as HyperPay which is headed by its CEO Muhannad Ebwini. Muhannad said the company saw a 150 percent increase in the number of customers in the last few weeks since the pandemic started. The company has also been able to register 200 businesses to its platform, enabling them to have an alternative to cash payments.
The growth of the company is due to a global shift in the business model which is moving online. Online transactions are becoming popular and companies such as HyperPay are ripping benefits for these benefits.
HyperPay remains the largest online payment solution in the Middle Eastern region. In an interview, Muhannad said that when coronavirus was declared as a global pandemic, companies moved swiftly to online payment solutions to avoid human contact. He said his company swang into actions into helping these businesses have a seamless transition to online trading.
The CEO continued by saying they had also implemented the HyperSplits platform that allowed clients with multiple recipients to handle transactions. The solution has become popular in the e-commerce business, freelancing agencies and fundraising in the region.
Compay operations during the lockdown
Muhannad also highlighted how HyperPay is dealing with lockdown and working from home. He said the concept is new, and just like everyone else, they had not anticipated the lockdown. However, the company was doing great and they were able to help other businesses going through the same difficulties to shift their transactions online.
Business online transactions will now become the norm even after the pandemic is long gone. Cashless economy is the future of business transactions, aid if there is anything the pandemic lockdown has exposed, is the importance of a robust system such as HyperPay for businesses that deal with multiple transactions.
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