Tamara, a fintech platform in the GCC, has joined forces with Amazon Payment Services to scale BNPL services across the UAE and Saudi Arabia.
As part of this collaboration, Tamara and Amazon Payment Services, an online payment processing service in the Middle East and North Africa, seek to allow businesses across the UAE and Saudi Arabia to provide customers with the former’s Sharia-compliant BNPL solutions.
Optimising payments for merchants and consumers
Tamara’s flexible payment solutions have been developed to deliver additional opportunities across sectors such as ecommerce, airlines, healthcare, insurance, education, fashion, and lifestyle. The company’s BNPL options enable customers to divide their payments into four equal, interest-free instalments. On the other hand, merchants can benefit from higher sales, minimised cart abandonment rates, and an increase in average order values, in turn improving the overall customer shopping experience.
Furthermore, Tamara’s strategic collaboration with Amazon Payment Services focuses on further supporting the company’s commitment to developing a customer-centric financial super app, directly addressing the surging regional demand for flexible and transparent payment methods. According to Tamara’s officials, by integrating their company’s solutions with Amazon Payment Services, the two organisations seek to enable shoppers to manage their purchases more conveniently while also driving growth for businesses.
The decision to integrate into the Amazon Payment Services portfolio expands the array of accessible payment options available. The company already delivers several BNPL and credit card instalment options through collaborations with over 25 banks. By including Tamara, Amazon Payment Services can serve a broader segment of customers, including those who are more inclined toward using debit or credit card payments. Additionally, the partnership aims to ensure that businesses within the Amazon Payment Services network benefit from the tools required to deliver an optimal payment experience. Through a single integration, companies can access a suite of payment options, reporting dashboards, and augmented settlement solutions, allowing them to expand their operations in the evolving digital payment landscape.
