Mastercard and Amazon Payment Services have entered into a multi-year agreement to improve digital payment acceptance in the Middle East and Africa. As part of the collaboration, Amazon Payment Services will implement Mastercard Gateway, a payment processing solution that will be available in 40 regional markets.

This integration is expected to provide merchants with efficient, secure, and seamless transaction capabilities, while offering a variety of payment options to customers. Expanding digital payment capabilities According to the official press release, this partnership comes at a time of significant growth in digital payments across the region. Through this initiative, thousands of merchants using Amazon Payment Services, including those operating Amazon’s online stores in the UAE and Egypt, will benefit from improved payment solutions.

The collaboration also aims to create synergies with other sectors, such as telecommunications and government entities, to streamline their checkout processes and enhance transaction security. A report from the Mastercard Payment Industry Insights Index highlights the growing consumer interest in emerging payment technologies. According to the report, 95% of consumers in the Middle East and Africa are exploring the use of new payment methods, such as digital wallets, biometrics, QR codes, and contactless payments.

Furthermore, 61% of consumers indicated that they would avoid businesses that do not offer electronic payment options. Financial institutions in the region have also seen digital transaction rates increase from 70% to 90% over the past two years as a result of migration to digital platforms. Mastercard and Amazon Payment Services have also signed an agreement to introduce additional payment upgrades.

These include services such as Secure Card on File, Click to Pay, and token authentication, all of which are designed to improve merchant checkout processes and improve the customer experience. Mastercard officials stated that this partnership will help scale payment acceptance and accelerate the region’s shift toward digital payments. In turn, representatives from Amazon Payment Services remarked that the implementation of Mastercard Gateway will expand the company’s reach and simplify integration for its partners thanks to the solution’s compatibility with major global acquirers.

Source: Link .