UAE Central Bank grants Amazon Payment Services the Retail Payment Services license


October 20, 2023 | By RetailME Bureau

Peter George, Managing Director for Amazon Payment Services in MENA

Digital payments major Amazon Payment Services has been granted a Retail Payment Services license by the UAE Central Bank. This marks a significant milestone for Amazon Payment Services, as the license enables it to unlock an enhanced offerings for its merchants across the country through unique products and services, directly improving the experience for their customers.

Obtaining the license reinforces Amazon Payment Services’ position as a trusted payment service provider in the UAE, where the company facilitates payment processing for hundreds of merchants including small and medium-sized businesses (SMBs). Further, this license enables Amazon Payment Services to invest in operational efficiency to deliver more streamlined payment processing and continues to support merchants of all sizes through its various hassle-free products and services.

“It is a privilege to have earned the trust of the UAE Central Bank and been granted this license which not only instils trust and security for merchants and customers alike, but also allows us to take our offering to the next level. We look forward to continuing to work with key local stakeholders as we expand our offering and invest in our operations across the UAE, facilitating seamless, secure and fast payments for merchants of all sizes and customers. At Amazon, we insist on the highest standards, and this license is a true testament of this,” said Peter George, Managing Director for Amazon Payment Services in MENA.

SMBs in the UAE accepting, or considering, online payments are set to gain the most from the regulated payment processing solution by Amazon Payment Services, with a range of benefits enabling faster onboarding and lower cost of payments, which aims to support their growth and success through a secure and reliable platform.

With this license, Amazon Payment Services joins a select group of payment providers operating a regulated retail payment service locally, contributing to instilling trust and promoting further adoption of digital payments in the UAE.

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