Amazon Payment Services, a regional vendor in digital payments operating across the Middle East and North Africa region, has been granted a Retail Payment Services license by the UAE Central Bank. Marking a significant milestone for the business, this license enables Amazon Payment Services to unlock an enhanced offering for its merchants across the country, through unique products and services, directly improving the experience for their customers.
Obtaining the license reinforces Amazon Payment Services’ position as a trusted payment service provider in the UAE, where the company facilitates payment processing for hundreds of merchants including Small to Medium-sized Businesses, SMBs. This license enables Amazon Payment Services to invest in operational efficiency to deliver more streamlined payment processing and continues to support merchants of all sizes through its various hassle-free products and services.
SMBs in the UAE accepting, or considering, online payments are set to gain the most from the regulated payment processing solution by Amazon Payment Services, with a range of benefits enabling faster onboarding and lower cost of payments, which aims to support their growth and success through a secure and reliable platform.
Peter George, Managing Director for Amazon Payment Services in MENA, said: “It is a privilege to have earned the trust of the UAE Central Bank and been granted this license which not only instils trust and security for merchants and customers alike, but also allows us to take our offering to the next level.
“We look forward to continuing to work with key local stakeholders as we expand our offering and invest in our operations across the UAE, facilitating seamless, secure, and fast payments for merchants of all sizes and customers. At Amazon, we insist on the highest standards, and this license is a true testament of this.”
Amazon Payment Services continues to offer seamless and secure payment solutions to merchants across new and diverse sectors such as travel, insurance, and education. With this license, the company joins a select group of payment providers operating a regulated retail payment service locally, contributing to instilling trust and promoting further adoption of digital payments in the UAE.
Amazon Payment Services is a regional vendor in digital payments operating across the Middle East and North Africa, MENA region with a mission to empower online businesses through a simple, affordable, and trusted 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, including tokenisation technology, local payment methods, third-party services such as advanced fraud tools, instalment plans such as Buy-Now-Pay-Later, digital wallets, and reporting APIs, as well as cutting-edge consumer payments insights.