PayTabs to acquire Amazon Payment Services' MENA operations

Saudi fintech firm PayTabs has reportedly agreed to acquire the Middle East and North Africa (MENA) operations of Amazon Payment Services in a deal valued at over $100 million. While the exact price and transaction structure have not been officially disclosed, both parties have reportedly approved the agreement.

The acquisition is expected to significantly expand PayTabs’ regional scale by integrating Amazon’s regional payments infrastructure. If completed, the combined entity is projected to process more than SAR 150 billion ($40 billion) in annual transactions. Amazon Payment Services currently operates in nine MENA countries, serving over 3,500 businesses, including those in the UAE.

The deal would provide PayTabs with broader merchant relationships and enhanced banking connections across various markets, navigating diverse currencies and regulatory environments. At this stage, no changes to service, pricing, or merchant contracts in the UAE have been announced.