Mastercard and Amazon Payment Services have signed a multi-year commercial partnership agreement to digitise payment acceptance in the Middle East and Africa.
According to a statement, as part of the collaboration, the payment service provider will adopt Mastercard’s Gateway – a single touch-point for payment processing, available in 40 markets across the region.
The integration of the solution will enable merchants to offer seamless and secure transactions, as well as convenient payment choices. It will be available in SA, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar and the United Arab Emirates.
In line with the rapid increase in digital payments, the partnership will benefit thousands of Amazon Payment Services merchants and Amazon online stores for shoppers, say the companies.
“We are proud to partner with Amazon Payment Services to scale payment acceptance and accelerate digitisation of payments with innovation solutions,” says Amnah Ajmal, executive VP, market development of EEMEA, Mastercard.
Amazon Payment Services allows payment processing offerings, including custom merchant page integration, shopping cart plugins for online shopping sites, mobile SDKs for in-app payments, as well as manual order processing for offline transactions.
It supports over 4 000 merchants and businesses across the region.
According to Mastercard, the organisations 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 for customers.
The collaboration will open new opportunities for building synergies with entities such as telcos and governments, to enhance their online checkout options, driving a faster and more secure transaction rate.
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, it says.
Peter George, MD of Amazon Payment Services, Middle East and North Africa, comments: “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 payment service provider and reduce the burden of integration, since the advanced technology solution is connected to all major acquirers around the world.”
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