Mastercard and Amazon Payment Services form a significant partnership aimed at expanding digital payments in the Middle East and Africa. The collaboration focuses on leveraging Mastercard Gateway technology to streamline payment processes across nine countries. A growing acceptance of digital payments is evident among consumers in the region. The initiative promises faster, more secure transactions for merchants. Collaboration opportunities with government and telecom sectors are anticipated.
Mastercard, a global leader in payment solutions, has announced a partnership with Amazon Payment Services to accelerate the acceptance of digital payments across nine countries in the Middle East and Africa. This strategic alliance is set to utilise Mastercard Gateway technology, which offers a streamlined interface for processing diverse payment methods, significantly enhancing merchant capabilities.
The regions targeted by this initiative include Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, South Africa, and the United Arab Emirates. By integrating Mastercard Gateway, Amazon Payment Services aims to leverage advanced technology connected to major acquirers globally, reducing integration complexities and broadening their reach as a payment service provider.
The backdrop to this collaboration is a notable shift towards digital payments in the MEA region, as per Mastercard’s Payment Industry Insights Index. A remarkable 95% of consumers are considering adopting emerging payment methods such as wearables, biometrics, digital wallets, QR codes, and contactless systems. Additionally, 61% of consumers are inclined to avoid businesses that do not accommodate electronic payments.
Amazon Payment Services and Mastercard are also focused on developing new payment solutions like Secure Card on File and Click to Pay. These innovations, alongside token authentication services, are set to empower merchants with multi-rail checkout options, thereby enhancing the speed and security of the purchasing experience for consumers.
The adoption of Mastercard Gateway is poised to benefit thousands of merchants, including those operating Amazon’s online marketplaces in the UAE and Egypt. This partnership also creates potential for aligning with telecommunication companies and governments to improve digital transaction processes, fostering a landscape of fast and secure payments. The initiative supports over 4,000 merchants and businesses in the MENA region, cementing a robust digital economy.
The Mastercard and Amazon partnership marks a pivotal step in advancing digital payment infrastructure in the MEA region, promising enhanced transaction speed and security.
