Amazon payment services looks at fintech innovation and the future of payments at Seamless Middle East 2022

Dubai, United Arab Emirates: This week, Amazon Payment Services, a regional leader in digital payments operating in the Middle East and North Africa (MENA), participated in Seamless Middle East 2022. Leaders from Amazon Payment Services addressed an audience of innovators, startups and fintech and online retail companies. leaders to discuss innovation and shed light on how customers will dictate the future of payments. Amazon Payment Services’ participation in Seamless is part of its commitment to engage with and foster fintech, online retail and broader business communities in the MENA region.

Amazon Payment Services supports merchants beyond payments through its extensive service portfolio, advanced technologies and value-added services, and a strong and growing network of partners across the region. One of the key Amazon Payment Services solutions showcased at Seamless Middle East 2022 was Installments, a highly targeted and personalized offering that has been proven to increase sales by 10-15% on average basket size. Also showcased at the event was PrivateLink, a multi-pronged solution designed to increase security, improve payment experience and success rate, and reduce data egress costs for merchants.

During his presentation titled “The Customer Will Dictate the Future of Payments”, Peter George, Managing Director of Amazon Payment Services, highlighted an alternative perspective through which the industry can view the future of payments, placing the buyer, rather than the retailer or technology provider, at the center of innovation.

Peter said, “With a customer-obsessed philosophy at the heart of Amazon Payment Services, our effort has been to relentlessly create a more convenient, seamless, and secure payment experience that meets customer needs. By innovating on behalf of our merchants and facilitating local and global payment methods, we enable them to focus and grow their core business, while expanding into new countries more easily. We are excited to be at the forefront of a wave of innovation in the region’s payments industry, led by customers, governments and fintech startups. By leveraging our Amazon Fintech Lab located at DIFC, we aim to advance the discussion while continuing to drive innovation around digital payments.

Commenting on the thriving fintech sector in the UAE, he added, “Over the next five years, we expect to see payment methods including digital wallets, Buy Now Pay Later solutions, installments, currencies digital technologies and open banking continue to be adopted not just in the UAE, but across the region.

Omar Halabieh, CTO of Amazon Payments Services, also participated in a keynote panel at Seamless Middle East 2022 which discussed “Enhancing Global Trade with a Smart Ecosystem and Sustainable Infrastructure”. As part of the panel, Omar highlighted how businesses can build their global digital commerce strategy, while delivering a superior localized customer experience through the use of technology.

During the session, Omar said, “When customers engage with a global brand, they expect a consistent yet localized experience across all countries, regardless of where they live. At Amazon Payment Services, we offer a suite of payment services that enable businesses to adapt to new geographies both quickly and efficiently, while providing their customers with access to localized, simple, affordable and reliable payment experiences.

A testament to the company’s efforts in digital payments, Amazon Payment Services was also awarded the title of “Best Customer Experience and Engagement”, at the 2022 Seamless Middle East Awards Ceremony.

Driven by its mission to empower and protect businesses online, Amazon Payment Services facilitates millions of secure transactions across the region while continuing to drive innovation for the digital payments industry in MENA.

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