Amazon Payment Services has recently obtained a Retail Payment Services license from the UAE Central Bank. This is a significant achievement for the company as it allows them to offer an enhanced range of products and services to their merchants in the country. The license also enables Amazon Payment Services to improve the overall customer experience by providing more streamlined payment processing.
With this license, Amazon Payment Services is able to invest in operational efficiency, ensuring that merchants of all sizes are supported through hassle-free products and services. Small and medium-sized businesses (SMBs) in the UAE that accept or are considering online payments will benefit the most from this regulated payment processing solution. They will enjoy faster onboarding and a lower cost of payments, which will contribute to their growth and success. Furthermore, the platform offers a secure and reliable payment solution.
Peter George, the Managing Director for Amazon Payment Services in MENA, expressed his gratitude for earning the trust of the UAE Central Bank and obtaining this license. He emphasized that this license not only instills trust and security for merchants and customers, but also allows Amazon Payment Services to elevate their offerings. The company looks forward to working with local stakeholders as they expand their operations in the UAE, providing seamless, secure, and fast payments for merchants of all sizes.
Additionally, Amazon Payment Services continues to provide seamless and secure payment solutions to merchants across various sectors including travel, insurance, and education. With this new license, the company joins a select group of payment providers offering regulated retail payment services in the UAE. This contributes to building trust and promoting the adoption of digital payments in the country.
In conclusion, Amazon Payment Services has received a Retail Payment Services license from the UAE Central Bank, enabling them to offer a wider range of products and services to their merchants. This license also improves the payment processing experience for customers. The company plans to invest in operational efficiency and expand their operations across the UAE. With this accomplishment, Amazon Payment Services aims to support the growth and success of SMBs and promote the adoption of digital payments in the country.
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