Amazon has rolled out its payment services platform in the Kingdom of Saudi Arabia, media reports said. It is reported that the move is a part of the company’s introduction the services in the Middle East and North Africa. Furthermore, the platform will pave the path for businesses in the Kingdom to carry out all modes of payments safely and securely.
The platform will be used to carry out both local and global payments by the businesses, allowing the payments to be carried out in instalments and also tracking payments performance while safeguarding businesses from any kind of fraud activities.
These are the banks that are partnered with Amazon Payment Services: National Commercial Bank (NCB), Rak Bank, Mashreq, The Saudi British Bank (SABB), Al Rajhi Bank and First Abu Dhabi Bank (FAB).
The Amazon Payment Services started its journey as Payfort in 2013. The new platform will also assist users to analyse consumer data and have a look at the insights into their online shopping behaviour.
Managing Director of Saudi Payments Fahad Al-Akeel, told the media, “Being in an extensive partnership with Payfort for several years, we are very excited about the next endeavor with Amazon Payment Services, which will facilitate more opportunities for digital payments in Saudi Arabia, in addition to diversifying secure and convenient contactless payment options for our Saudi consumers.”
The payments platform launch is a big boost for the Kingdom in terms of sustainability and development. Amazon is also looking to put efforts to bolster the Kingdom’s Vision 2030.