Saudi Arabia’s PayTabs Is Buying Amazon Payments MENA for $100M+
Hey Payments Fanatic!
The MENA payments market is about to get a little less fragmented.
Saudi Arabia’s PayTabs Group has agreed to acquire Amazon Payment Services’ Middle East and North Africa operations in a deal valued at more than $100 million.
The acquisition would significantly expand PayTabs’ regional footprint, bringing the combined business to more than SAR 150 billion in annual payment volume and strengthening its position across processing, switching, and payouts.
It’s another sign that payments infrastructure in MENA is moving toward bigger, more integrated players — especially those that can combine local connectivity, regulatory coverage, and technology on one platform.
And while PayTabs is scaling across the region, Airwallex is putting the spotlight on the finance leaders helping high-growth startups scale globally.
Let’s get into today’s Payments stories. 👇 See you tomorrow!
Cheers,
INSIGHTS
💡 Airwallex: Startup Finance 30: Nominations Are Now Open. Airwallex has opened nominations for Startup Finance 30, an annual list recognising 30 finance leaders driving growth at ambitious, venture-backed startups. Anyone can nominate a finance leader or put themselves forward, with the final 30 selected by an independent committee of operating CFOs based on their impact, track record, and ability to help startups scale globally. Learn more and submit a nomination here
NEWS
🌍 Mastercard and Flowcart join forces to power secure card payments into social commerce in East Africa. The partnership enables merchants to accept card payments directly within social media platforms, targeting the region's fast-growing creator economy.
🇬🇧 Miles & More, Currensea and Mastercard launch rewards debit card for UK frequent flyers. The card links directly to customers' existing bank accounts and lets members earn miles on everyday debit spending at home and abroad across Lufthansa Group airlines.
🇭🇺 Klarna expands BNPL availability in Hungary, partnering with iStyle to offer interest-free installment payments. Shoppers can split purchases into three equal payments or defer payment for up to 30 days at no extra cost.
🇸🇦 Saudi Arabia's PayTabs Group acquires Amazon Payments MENA in a deal valued north of $100 million. The combined entity is expected to process more than SAR 150 billion annually, making PayTabs the largest MENA payments infrastructure provider.
🇸🇦 Salla acquires Paylink to expand its e-commerce payments capabilities in Saudi Arabia. The deal brings Paylink's payment infrastructure and merchant network directly into Salla's platform, strengthening its position as a leading e-commerce enabler in the region.
🇦🇪 NymCard receives in-principle approval from CBUAE for a Stored Value Facility licence. The approval marks NymCard's third licence with the Central Bank of the UAE, building on its existing Retail Payment Services and Open Finance licences.
🌍 Spondula launches mobile apps for iOS and Android, targeting one million users as its next milestone. The global payments network lets individuals and businesses send, receive, and hold funds using a portable payment identity called a Shandle for local and cross-border transactions.
🇿🇦 Samsung Wallet introduces QR code payments with Scan to Pay in South Africa. The feature, powered by EFT Corp, lets Galaxy users scan QR codes at over 600,000 acceptance locations for in-store and online purchases.
🇮🇳 PB Fintech's PB Pay goes live, launching as an RBI-licensed payment aggregator in India. The platform supports UPI, cards, net banking, wallets, EMI and recurring payment options under a single integration for merchants.
🇵🇹 Viva.com connects directly to Multibanco, becoming the first international bank linked to Portugal's national payment network. The integration gives merchants access to over 9 million MB cardholders and 7 million MB WAY users across Europe.
🇰🇷 BC Card launches Family Pay, a shared payment service letting family or friends use one payment method together. A representative approves each transaction individually, marking the first such feature from a Korean card issuer.
🇵🇭 BSP plans a one-year pause on registering new payment system operators in the Philippines. The suspension supports a holistic review of the licensing framework and tighter merchant traceability rules.
🇶🇦 Qatar Central Bank joins the AFAQ payments system, completing participation of all GCC central banks. Three Qatari commercial banks also joined, bringing total participating banks across the Gulf to 74.
🇭🇰 AEON launches Agentic Checkout, enabling AI agents to shop, check out and pay across e-commerce platforms like Shopify and Amazon. Powered by the AEON AI Card, agents complete purchases over Visa and Mastercard rails without exposing user credentials.
🇦🇪 UAE introduces new VAT conversion rules for cryptocurrency payments, clarifying how digital assets are treated for tax purposes. Businesses must now convert crypto transaction values to AED using the exchange rate at the time of supply for VAT reporting.
🇺🇸 Ramp announces a strategic collaboration with AWS to provide AI-enabled finance operations. AWS customers can now procure Ramp's platform directly through AWS Marketplace using committed spend.
🇸🇬 DBS and Citi partner to enable instant 24/7 cross-border USD payments using tokenized deposits via the Swift Digital Ledger. The first weekend transaction between Singapore and the U.S. settled in minutes instead of up to two business days.
🇦🇺 Adyen powers payments for Limitless Technology Group, the gifting e-commerce firm behind LVLY, Bloomeroo and Flower Chimp. The company brought over 10 online stores live across four markets within just one week by consolidating four payment gateways into one.
🇭🇰 Payment Asia, ShipAny and EasyStore sign a partnership to connect e-commerce, payments and logistics for SMEs. The collaboration aims to help merchants manage sales through to fulfilment across Hong Kong and Asia.
🇦🇺 Hello Clever partners with Banking Circle to power global payments for Australian merchants. The partnership gives Hello Clever access to Banking Circle's global payments infrastructure, enabling faster cross-border transactions and broader international reach.
GOLDEN NUGGET
🤔 How does money actually move across borders?
Here's a simple breakdown of how international transfers really work:
Most people just hit "send" and hope it lands. But behind every cross-border payment sit two very different systems.
💰 𝗕𝗮𝗻𝗸 / 𝗪𝗶𝗿𝗲 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿𝘀
The traditional route, built on banks and correspondent banks.
► Your bank sends funds to a receiving bank abroad
► It passes through payment systems and correspondent banks on both sides
✔ Secure, built for large amounts
❌ Slow and often expensive
🌍 𝗠𝗼𝗻𝗲𝘆 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝗢𝗽𝗲𝗿𝗮𝘁𝗼𝗿𝘀 (𝗠𝗧𝗢𝘀)
Specialised players offering a mix of transfer methods.
► You hand funds to an operator, they deliver to the recipient
► Bank account, wallet, cash pick-up, mobile money, all on the table
✔ Faster and more convenient
❌ Fees can bite on smaller amounts
𝗦𝗼 𝗵𝗼𝘄 𝗱𝗼 𝘆𝗼𝘂 𝗰𝗵𝗼𝗼𝘀𝗲?
→ Amount: large sums lean bank transfer
→ Speed: need it fast? MTOs win
→ Cost: always compare fees and FX rates
→ Convenience: depends on the agents and platforms on both ends
And the part most people skip over:
► Exchange rates move, watch them
► Hidden fees add up quietly
► Regulations differ corridor by corridor
The key insight is simple:
The right method comes down to the amount, the speed you need, and the route you're sending along.
Source: Mastercard https://lnkd.in/dAzhyk
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