• Partnership covers key countries including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, South Africa and UAE
  • The two partners will also co-create innovative multi-rail payment solutions for customers

Dubai, UAE: Mastercard and Amazon Payment Services have signed a multi-year commercial partnership agreement to digitize payment acceptance in Middle East and Africa, across countries including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, South Africa and UAE.

As part of the collaboration, the leading payment service provider (PSP) will adopt Mastercard Gateway  – a single touchpoint for payment processing – as a payment solution available in 40 markets in the region. The integration of the solution will enable merchants to offer fast, seamless, and secure transactions as well as convenient payment choices to customers.

In line with the rapid increase in digital payments, the partnership will benefit thousands of Amazon Payment Services merchants, including Amazon online stores for shoppers across the UAE and Egypt. In addition, it will open new opportunities for building synergies with entities such as telcos and governments to enhance their checkout options, driving a faster and more secure transaction rate for their customers.

According to the Mastercard Payment Industry Insights Index, 95% of consumers in  Middle East and Africa are considering using emerging payment methods, such as wearables, biometrics, digital wallets, QR codes, and contactless payments. Additionally, 61% of consumers would avoid businesses that do not accept electronic payments, while banks in the region that have migrated to digital channels have also seen the share of digital transactions increase from 70% to 90% over the course of approximately 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.

The two organizations have also signed an innovation agreement to develop Secure Card on File, Click to Pay, and token authentication services to provide multi-rail checkout options to merchants, and a faster checkout experience to 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.”

Mastercard Gateway is a trusted solution that offers a single connection to help customers accept payments globally and expand into new markets with ease while protecting them from risk and fraud. Powered by frictionless digital checkout solutions, it removes the need for manual card and password entry for online shoppers. As one of the largest gateways in the region that is utilized by many players in the financial space, it allows its partners to accept a wide range of digital transactions, including all leading card brands and non-card payment options.

Amazon Payment Services continues to enable online payments in MENA, supporting over 4,000 merchants and businesses across the region. The company’s services are available for businesses in the United Arab Emirates, Saudi Arabia, Egypt, Jordan, Lebanon, Qatar, Kuwait, Oman and Bahrain.

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About Mastercard

NYSE: MA)  www.mastercard.com 

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Mastercard Communications Contact: Halima Islam, halima.islam@mastercard.com

About Amazon Payment Services

Amazon Payment Services is a regional leader 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 optimize their online presence, Amazon Payment Services provides secure digital payment services and solutions that are easy to use, including tokenization 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.

For more information on Amazon Payment Services, please visit paymentservices.amazon.com and follow us on Twitter, Facebook and LinkedIn.