New era for digital payments in MEA region

Mastercard and Amazon Payment Services have entered into a multi-year commercial partnership aimed at digitising payment acceptance across the Middle East and Africa, encompassing countries such as Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, South Africa, and the UAE

Under this collaboration, Amazon Payment Services will implement Mastercard Gateway, a unified payment processing solution, which will be accessible in 40 markets within the region. This integration is set to enhance merchants' ability to provide swift, seamless, and secure transactions, along with a variety of convenient payment options for their customers.

With the rapid rise in digital payments, this partnership is poised to benefit thousands of merchants using Amazon Payment Services, including those operating Amazon online stores catering to consumers in the UAE and Egypt. Furthermore, it will pave the way for new collaborations with telecommunications companies and governments to improve their checkout solutions, thereby increasing transaction speed and security for customers.

According to the Mastercard Payment Industry Insights Index, 95% of consumers in the Middle East and Africa are open to using emerging payment methods, such as wearables, biometrics, digital wallets, QR codes, and contactless payments. Additionally, 61% of consumers would steer clear of businesses that do not accept electronic payments. Banks in the region that have transitioned to digital channels have experienced a rise in digital transactions, increasing from 70% to 90% over roughly two years.

“We are proud to partner with Amazon Payment Services to scale payment acceptance and accelerate digitisation of payments with innovation solutions,” stated Amnah Ajmal, executive vice-president, market development, EEMEA, Mastercard.

The two companies have also established an innovation agreement to create Secure Card on File, Click to Pay, and token authentication services, providing merchants with multi-rail checkout options and offering customers a quicker checkout experience.

Peter George, managing director, Amazon Payment Services, Middle East & North Africa, expressed, “We are delighted to strengthen our collaboration with Mastercard to deliver on our common goal of shaping the future of online payments in the region. Implementing Mastercard Gateway will empower us to expand our reach as a PSP and reduce the burden of integration, since the advanced technology solution is connected to all major acquirers around the world.”

Mastercard Gateway is a reliable solution that facilitates a single connection for customers to accept payments globally and expand into new markets effortlessly while safeguarding them against risks and fraud. Featuring frictionless digital checkout options, it eliminates the need for customers to manually enter card details and passwords when shopping online. As one of the largest gateways in the region, utilised by numerous financial sector players, it enables partners to accept a diverse range of digital transactions, including all leading card brands and non-card payment methods.

Amazon Payment Services continues to bolster online payments in the MENA region, supporting over 4,000 merchants and businesses across various countries, including the United Arab Emirates, Saudi Arabia, Egypt, Jordan, Lebanon, Qatar, Kuwait, Oman, and Bahrain.