This week, Amazon Payment Services participated in Seamless Middle East 2022. Amazon Payment Services leaders addressed an audience of fintech and online retail innovators, startups, and business leaders to discuss innovation and shed light on how customers will dictate the future of payments. Amazon Payment Services’ participation at Seamless falls in line with its commitment to engage with and foster the fintech, online retail, and wider business communities across MENA.
Amazon Payment Services supports merchants beyond payments through its extended services portfolio, advanced technologies and value-added services, as well as a strong and growing network of partners throughout the region. A key Amazon Payment Services solution featured at Seamless Middle East 2022 was Installments, a highly targeted and tailored offering proven to increase sales by 10-15% across average basket sizes. Also showcased at the event was PrivateLink, a multi-pronged solution designed to increase security, improve the payment experience and success rate, as well as 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 lens through which the industry can view the future of payments, placing the shopper, rather than the retailer or technology provider, at the center of innovation.
Peter said: “With a customer-obsessed philosophy sitting at the core of Amazon Payment Services, our endeavor has been to relentlessly craft a more convenient, seamless, and secure payment experience which addresses the needs of the customer. 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 to new countries with more ease. We are excited to be at the forefront of a wave of innovation in the region’s payment sector, led by customers, governments, and fintech startups. Leveraging our Amazon Fintech Lab located in DIFC, we aim to drive the discussion further while continuing to foster 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, digital currencies, and open banking continue to gain adoption not only in the UAE, but across the region.”