Amazon Payment Services gets UAE Central Bank’s Retail Payment Services licence, improving UAE businesses of all sizes.
The digital paytech company Amazon Payment Services has reached a new milestone with the UAE Central Bank’s award of a Retail Payment Services licence.
Amazon Payment Services can now provide distinctive goods and services to its merchants throughout the United Arab Emirates thanks to the licence, which enhances customer satisfaction. Because of the licence, the business is able to assist small and medium-sized enterprises (SMBs) as well as retailers of all sizes.
Now that operational efficiency has increased, Amazon Payment Services can provide more efficient payment processing in the United Arab Emirates.
The regulated payment processing solution would be particularly beneficial to SMBs in the UAE that accept or are considering accepting online payments. A number of advantages will be available to them, allowing for quicker onboarding and less expensive payments. This in turn provides them with a dependable and safe platform to support their success and expansion.
“It is a privilege to have earned the trust of the UAE Central Bank,” stated Peter George, managing director of Amazon Payment Services in the Middle East and Africa. This licence enables us to advance our product while also fostering a sense of confidence and security among consumers and merchants alike.
“We’re excited to collaborate with important local stakeholders. Especially as we increase the scope of our activities throughout the UAE and broaden our offerings. Our goal is to make payments easy, safe, and quick for consumers and businesses of all kinds. This licence is a clear indication of the highest standards that we at Amazon demand.
The company provides merchants in new and diverse sectors with secure and seamless payment solutions. These consist of education, insurance, and travel. Additionally, by obtaining this licence, the business joins a small but exclusive club of payment processors that locally run regulated retail payment services.
As a result, it helps to foster confidence and encourage the UAE to continue using digital payments.
