The service offers businesses in the region the capacity to accept all forms of payments securely.
Amazon Payment Services will enable Saudi businesses to process both global and local payments, enable payments to be made in installments, monitor payment performance and protect businesses from fraud attempts by accurately converting currencies.
Amazon Payment Services began as Payfort in 2013 and joined the Amazon group of companies when the online conglomerate acquired the Souq Group in 2017.
“Payfort is becoming Amazon Payment Services, which launched today,” said Omar Soudodi, managing director of Amazon Payment Services.
“What we’re trying to do is further empower organizations in Saudi Arabia, big or small, to build simple, trusted and affordable payment experiences,” Soudodi told Arab News.
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Payfort is now Amazon Payment Services.
In 2017, Amazon acquired Payfort as part of the Souq Group acquisition. Amazon has now completed integrating Payfort into the Amazon UAE ecosystem.
Amazon Payment Services provides access to a range of payment services to its business customers that enables them to accept online payments using both global and local payment methods, offer installments to customers and monitor payment performance round the clock.
Today, Amazon Payment Services says it processes transactions for thousands of businesses across multiple industries, ranging from aviation to travel and tourism, retail, insurance, real estate, government, and more.
Partner banks include Rak Bank, First Abu Dhabi Bank (FAB), Mashreq, the Saudi British Bank (SABB), Al Rajhi Bank, Riyad Bank and National Commercial Bank (NCB). Partners also include local card schemes such as MADA, and Meeza, and international card services such as Visa, and MasterCard.
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