Amazon Payment Services obtains Retail Payment Services licence

Wednesday 18 October 2023 14:44 CET | News

Amazon Payment Services, a digital payments provider operating across the MENA region, has been granted a Retail Payment Services licence by the UAE Central Bank.

The press release states that this licence enables Amazon Payment Services to unlock a better offering for its merchants across the country, through products and services, directly improving the experience for their customers.

Additionally, obtaining the licence strengthens Amazon Payment Services’ position as a payment service provider in the UAE, where the company facilitates payment processing for hundreds of merchants including small to medium-sized businesses. This licence also enables Amazon Payment Services to invest in operational efficiency to deliver more streamlined payment processing and continue to support merchants of all sizes through its various hassle-free products and services.

Amazon Payment Services, a digital payments provider operating across the MENA region, has been granted a Retail Payment Services licence by the UAE Central Bank.

SMBs in the UAE accepting, or considering, online payments are set to benefit from the regulated payment processing solution by Amazon Payment Services. This solution offers a range of advantages, such as faster onboarding and lower payment processing costs, all aimed at supporting the growth and success of these SMBs through a secure platform.

Amazon Payment Services intends to continue offering simplified and secure payment solutions to merchants across new and diverse sectors such as travel, insurance, and education. With this licence, the company joins a select group of payment providers operating a regulated retail payment service locally, promoting the further adoption of digital payments in the UAE.

About Amazon Payment Services

Amazon Payment Services is a regional player in digital payments operating across the Middle East and North Africa region with a mission to enable online businesses through a simple and affordable payment experience. Designed to enable businesses to unlock and optimise their online presence, Amazon Payment Services provides secure digital payment services and solutions that are easy to use. These can include tokenisation technology, local payment methods, third-party services such as fraud tools, instalment plans such as BNPL, digital wallets, reporting APIs, as well as consumer payment insights.

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Keywords:	payments , ecommerce, SMEs, merchant, retail
Categories:	Payments & Commerce
Companies:	Amazon Payment Services
Countries:	United Arab Emirates

This article is part of category

Payments & Commerce

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