Payfort becomes Amazon Payment Services across MENA

Monday 14 December 2020 12:31 CET | News

Amazon has revealed it completed Payfort integration, three years after Souq acquisition, Gulf Business reports.

Acquired in 2017, Payfort was part of the Souq Group acquisition, and now Amazon has completed integrating Payfort into the Amazon UAE ecosystem. Amazon Payment Services provides access to a range of payment services to its business customers. This enables them to accept online payments using both global and local payment methods, offer instalments to customers, and monitor payment performance round the clock.

New services offered by Amazon Payment Services provide reports with insights and real-time monitoring of payment activities. In addition, businesses can get transaction authentication and reduce friction at checkout. Businesses can also build their dashboard by merging their data from different sources which helps them track and meet their goals.

Amazon Payment Services processes transactions across multiple industries, ranging from aviation to travel and tourism, retail, insurance, real estate, government, and more. Partner banks include Rak Bank, First Abu Dhabi Bank (FAB), Mashreq, the Saudi British Bank (SABB), Al Rajhi Bank, Riyad Bank, and National Commercial Bank (NCB), as well as local card schemes such as MADA and Meeza, and international card services such as Visa and MasterCard.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Amazon Payment Services, PayFort, MENA, acquisition, online payments, instalments, authentication, local payment methods, UEA
Categories: Payments & Commerce
Countries: United Arab Emirates
This article is part of category

Payments & Commerce

Industry Events