Amazon Payment Services Secures UAE Retail Payment Services License

Published 8 months ago
  Amazon Payment Services

Amazon Payment Services, the Middle East and North Africa (MENA) region’s digital payments leader, has secured a Retail Payment Services license from the UAE Central Bank. This marks a significant advancement for the company, enabling it to provide an enhanced offering to its merchants nationwide through unique products and services, improving their customers’ experience.

The license strengthens Amazon Payment Services’ standing as a trusted payment service provider in the UAE, where it facilitates payment processing for hundreds of merchants, including Small to Medium-sized Businesses (SMBs). It will enable Amazon Payment Services to invest in operational efficiency, providing more streamlined payment processing and continuing to support merchants of all sizes through its various hassle-free products and services.

Benefits for SMBs in the UAE

SMBs in the UAE accepting or considering online payments stand to gain the most from Amazon Payment Services’ regulated payment processing solution. The service offers a range of benefits, including faster onboarding and lower payment costs, designed to promote their growth and success through a secure and dependable platform.

Peter George, Managing Director for Amazon Payment Services in MENA, sees the license as a privilege that instills trust and security for both merchants and customers. It also allows the company to elevate its offering. George stated, “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.”

Diverse Sectors and Trust in Digital Payments

Amazon Payment Services continues to provide seamless and secure payment solutions to merchants in new and diverse sectors such as travel, insurance, and education. The company joins a select group of payment providers operating a regulated retail payment service locally with this license. It contributes to fostering trust and promoting further adoption of digital payments in the UAE.

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