PayTabs to acquire Amazon Payment Services MENA in a deal valued at more than $100 million

Amazon has agreed to sell its payment services business in the Middle East and North Africa to Saudi payments gateway PayTabs Group. For high-risk PSPs, the useful part is not the headline number; it is that the asset already processes cards, local methods, fraud checks, multi-currency conversion, and alternative checkout across nine countries.

1. Both sides have approved the transaction, and the joint statement pegs it at “north of $100 million.” Amazon Payment Services currently serves more than 3,500 businesses in MENA, which is not exactly a niche book of merchants.
2. The business processes payments through global networks such as Visa and Mastercard, and local payment methods including Mada in Saudi Arabia, Knet in Kuwait, and Meeza in Egypt. It also handles transaction processing, fraud monitoring, multi-currency conversions, instalments, and digital wallets.
3. Amazon Payment Services operates in nine countries in the region. It was originally founded as PayFort in 2013, then came under Amazon through the $580 million cash acquisition of Souq.com in 2017, before being rebranded three years later.
4. PayTabs says the acquisition will make it “the largest MENA payments infrastructure provider,” covering payment processing, automated switching, and payouts. The combined entity is expected to process more than SAR 150 billion (around $39.9 billion) annually.
5. This deal follows a run of acquisitions by PayTabs: in April 2026 it bought UAE-based contactless payment platform TAPn'GO to add tap-to-phone functions; earlier it took full control of PayTabs Egypt by buying EFG Finance’s 51% stake, acquired Saudi point-of-sale provider Digital Pay, and bought Turkish social commerce company Paymes for chat-based checkout. PayTabs is backed by Wa’ed Ventures, the venture capital arm of Saudi Aramco, and has been led by founder and CEO Abdulaziz Fahad Al-Jouf since 2014.