Amazon Payment Services obtains retail payment licence

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UAE - Amazon Payment Services, a regional leader in digital payments operating across the Middle East and North Africa (Mena) region, has been granted a Retail Payment Services licence by the UAE Central Bank.

Marking a significant milestone for the business, this licence enables Amazon Payment Services to unlock an enhanced offering for its merchants across the country, through unique products and services, directly improving the experience for their customers.

Obtaining the licence reinforces Amazon Payment Services’ position as a trusted payment service provider in the UAE, where the company facilitates payment processing for hundreds of merchants including Small to Medium-sized Businesses (SMBs).

Operational efficiency

This licence enables Amazon Payment Services to invest in operational efficiency to deliver more streamlined payment processing and continues to support merchants of all sizes through its various hassle-free products and services.

SMBs in the UAE accepting, or considering, online payments are set to gain the most from the regulated payment processing solution by Amazon Payment Services, with a range of benefits enabling faster onboarding and lower cost of payments, which aims to support their growth and success through a secure and reliable platform.

Peter George, Managing Director for Amazon Payment Services in Mena, said: “It is a privilege to have earned the trust of the UAE Central Bank and been granted this licence which not only instils trust and security for merchants and customers alike, but also allows us to take our offering to the next level. 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. At Amazon, we insist on the highest standards, and this licence is a true testament of this.”