Mastercard and Amazon Payment Services have entered into a multi-year commercial partnership aimed at digitizing payment acceptance across the Middle East and Africa, covering countries such as Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, South Africa, and the UAE.
As part of this collaboration, the prominent payment service provider (PSP) will implement Mastercard Gateway, a unified solution for payment processing, available in 40 markets throughout the region. This integration will empower merchants to provide quick, seamless, and secure transactions, along with a variety of convenient payment options for customers.
Enhancing merchant opportunities
In response to the surge in digital payments, this partnership will serve thousands of Amazon Payment Services merchants, including those operating Amazon online stores for consumers in the UAE and Egypt. Furthermore, it will create new opportunities for collaboration with telecom companies and government entities to enhance checkout experiences, thereby facilitating more efficient and secure transaction processes for their customers.
Read more: Mastercard, ADGM partner to digitize SME payment flows in UAE
Preference for digital payments
According to the Mastercard Payment Industry Insights Index, 95 percent of consumers in the Middle East and Africa are considering adopting emerging payment methods, such as wearables, biometrics, digital wallets, QR codes, and contactless transactions. Moreover, 61 percent of consumers would steer clear of businesses that do not accept electronic payments. Banks in the region that have transitioned to digital channels have also reported an increase in the share of digital transactions from 70 percent to 90 percent in about two years.
“We are proud to partner with Amazon Payment Services to scale payment acceptance and accelerate digitization of payments with innovation solutions,” said Amnah Ajmal, executive vice president, Market Development, EEMEA, Mastercard.
Innovation agreement for enhanced services
Additionally, the two organizations have formalized an innovation agreement to create Secure Card on File, Click to Pay, and token authentication services, offering merchants multi-rail checkout options and a quicker checkout experience for end customers.
Peter George, managing director, Amazon Payment Services, Middle East & North Africa, commented: “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.”
Frictionless checkout experience
Mastercard Gateway provides a reliable solution that facilitates a single connection for merchants to accept payments globally, enabling them to expand into new markets while safeguarding against risks and fraud. Its frictionless digital checkout solutions eliminate the need for manual card and password entry for online shoppers. As one of the largest gateways in the region, widely adopted by various financial entities, it allows partners to accept a broad spectrum of digital transactions, encompassing all major card brands and non-card payment methods.
Amazon Payment Services continues to drive online payments in the MENA region, supporting over 4,000 merchants and businesses. The company’s services are accessible to businesses in the United Arab Emirates, among other locations.
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