Mastercard Gateway is a global payment platform offering fraud protection and simplifying payment acceptance. The main forces driving this change are the speed, security, and ease of use provided by digital wallets and mobile money. Mobile money services like MTN Mobile Money, Airtel Money, and M-Pesa are becoming well-known brands.
Enhancing digital payment experiences
Mastercard and Amazon Payment Services have entered into a multi-year partnership to digitize payment acceptance in key markets across the Middle East and Africa. The agreement covers Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, South Africa, and the United Arab Emirates.
Through this partnership, Amazon Payment Services will integrate Mastercard Gateway, a streamlined payment processing solution, across 40 markets in the region. This integration will enable merchants to offer faster and more secure transactions as well as a variety of payment options to customers.
This collaboration comes as digital payments continue to grow in the region. Amazon Payment Services merchants, including Amazon online stores in the UAE and Egypt, are expected to benefit from enhanced transaction speed and security. The partnership will also explore synergies with sectors such as telecommunications and government to further improve payment experiences.
Mastercard Gateway
In addition to Gateway integration, Mastercard and Amazon Payment Services have agreed to develop new security and authentication services, such as Secure Card on File and Click to Pay, to enhance payment experiences. « The implementation of Mastercard Gateway will allow us to expand our reach as a PSP and reduce the burden of integration », said Peter George, Managing Director of Amazon Payment Services.
Amazon Payment Services currently supports over 4,000 merchants in the Middle East and North Africa, with services available in the UAE, Saudi Arabia, and Egypt. Digital payments are rapidly transforming the African financial landscape, driven by the growing penetration of smartphones, increased internet access, and innovative fintech solutions. Across the continent, businesses, and consumers are embracing cashless payment methods, reshaping economies and fostering financial inclusion.
Millions of unbanked individuals now have access to financial services. According to the Mastercard Payment Industry Insights Index, 95% of consumers in the Middle East and Africa are considering using emerging payment methods, such as connected devices, biometrics, digital wallets, QR codes, and contactless payments.
Ubiquity of digital payments in society
The GSM Association reported that in 2022, there were over 621 million active mobile money accounts in Sub-Saharan Africa, reflecting the growing acceptance of digital payments in the region. The primary drivers of this shift are the speed, security, and ease of use provided by digital wallets and mobile money.
Leading countries in this space include South Africa, Nigeria, and Kenya, where businesses are progressively implementing mobile payment systems to connect with underserved groups.
For instance, more than 90 % of adults in Kenya regularly use mobile money services, demonstrating the ubiquity of digital payments in society.
