Fintech

PayTabs agrees to buy Amazon Payment Services’ MENA business for over $100M

The business operates in nine markets and serves more than 3,500 companies.

Saudi-based PayTabs Group has agreed to acquire the Middle East and North Africa payments operations of Amazon Payment Services in a deal worth more than $100M. Both parties have approved the transaction.

Amazon Payment Services operates in nine markets in the region and serves more than 3,500 businesses. After completion, the combined business is expected to process more than SAR 150bn ($40bn) a year.

Sources: Wamda · ومضة