Mastercard and Amazon Payment Services Partner to Digitize Payments Across Middle East and Africa

Mastercard Gateway to Enable Fast, Seamless, and Secure Transactions Across the Region

Key Highlights:

• Partnership covers countries including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, South Africa, and the UAE.
• The collaboration aims to co-create innovative multi-rail payment solutions for customers.

Dubai, United Arab Emirates; 30 September 2024: Mastercard and Amazon Payment Services have entered a multi-year commercial partnership to digitize payment acceptance across the Middle East and Africa. This strategic agreement will enhance payment capabilities in key countries such as Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, South Africa, and the UAE.

As part of the collaboration, Amazon Payment Services will integrate Mastercard Gateway, a single touchpoint for payment processing. This advanced solution, available in 40 markets across the region, will enable merchants to offer faster, seamless, and secure transactions, providing customers with a more convenient payment experience.

Driving Digital Transformation in Payments

With digital payments on the rise, the partnership between Mastercard and Amazon Payment Services will significantly benefit thousands of merchants, including Amazon online stores in the UAE and Egypt. It also opens opportunities for building synergies with various sectors, such as telecommunications and government entities, to enhance checkout options and increase transaction speed and security for their customers.

According to the Mastercard Payment Industry Insights Index, 95% of consumers in the 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. Banks in the region that have transitioned to digital channels have seen a significant increase in digital transactions, growing from 70% to 90% over two years.

Amnah Ajmal, Executive Vice President of Market Development for EEMEA at Mastercard, said, “We are proud to partner with Amazon Payment Services to scale payment acceptance and accelerate the digitization of payments with innovative solutions.”

Innovation for Seamless Checkout Experience

The partnership also includes an innovation agreement focused on developing secure payment services like Secure Card on File, Click to Pay, and token authentication. These services will provide multi-rail checkout options for merchants and a faster checkout experience for customers, improving overall payment efficiency.

Peter George, Managing Director of Amazon Payment Services, MENA, 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, as the solution is connected to all major acquirers worldwide.”

About Mastercard Gateway

Mastercard Gateway is a trusted, globally connected solution that offers businesses a seamless way to accept payments. Its advanced technology removes the need for manual card and password entry, providing frictionless digital checkout experiences. The gateway supports a wide range of payment methods, including all leading card brands and non-card payment options, while ensuring risk and fraud protection.

Amazon Payment Services’ Continued Growth

Amazon Payment Services remains a key enabler of online payments across the Middle East and North Africa (MENA) region, supporting over 4,000 merchants and businesses. Its services are available across the UAE, Saudi Arabia, Egypt, Jordan, Lebanon, Qatar, Kuwait, Oman, and Bahrain, helping businesses streamline their payment processes and expand their reach.

Source: AETOSWire
Contact:
Halima Islam, Mastercard
Halima.Islam@mastercard.com

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