Amazon to Launch Payfort in Saudi Arabia

Amazon to Launch Payfort in Saudi Arabia

The service offers businesses in the region the capacity to accept all forms of payments securely.

Amazon Payment Services will enable Saudi businesses to process both global and local payments, enable payments to be made in installments, monitor payment performance and protect businesses from fraud attempts by accurately converting currencies.

Amazon Payment Services began as Payfort in 2013 and joined the Amazon group of companies when the online conglomerate acquired the Souq Group in 2017.

"Payfort is becoming Amazon Payment Services, which launched today,“ said Omar Soudodi, managing director of Amazon Payment Services.

"What we're trying to do is further empower organizations in Saudi Arabia, big or small, to build simple, trusted and affordable payment experiences,“ Soudodi told Arab News.

Online adoption has increased significantly in Saudi Arabia over the past five years. Soudodi said it is due to an increase in the number of organizations, companies, startups and government bodies offering their services to customers able to pay online.

There is also a growing diversification of payment methods, which has resulted in countless customers turning to online shopping in the form of services like MADA in the Kingdom, Meeza in the UAE and Value in Kuwait.

"These payment methods are making it simpler to transact online.