Mastercard and Amazon Payment Services have signed a multi-year commercial partnership agreement to digitise payment acceptance in countries across the Middle East and Africa.

As part of the agreement, Amazon Payment Services will adopt Mastercard Gateway, a service that allows users to accept a wide range of digital transactions, including non-card payment options.

Mastercard stated that this move will enable merchants to offer fast and secure transactions, as well as convenient payment choices to customers.

The company claims the partnership will benefit “thousands” of Amazon Payment Services merchants, including Amazon online stores for shoppers across the UAE and Egypt.

According to the Mastercard Payment Industry Insights Index, 95 per cent 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, Mastercard noted that 61 per cent of consumers would avoid businesses that do not accept electronic payments. Banks in the region that have migrated to digital channels have also seen the share of digital transactions increase from 70 per cent to 90 per cent over the course of approximately two years.

“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,” said Peter George, Managing Director, Amazon Payment Services, Middle East & North Africa. “Implementing Mastercard Gateway will empower us to expand our reach as a PSP and reduce the burden of integration, as the advanced technology solution is connected to all major acquirers around the world.”

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