Amazon Payment Services has opened its first fintech lab in the heart of Dubai’s financial and fintech centre – the DIFC Innovation Hub – to drive innovation in payment services.
The Amazon Fintech Lab will support new programmes, ideas and increase knowledge on the digital payments and fintech sectors worldwide.
It will also host networking, mentorship, roundtables, workshops, keynote speakers and research around the
topics of digital services, fintech and the global tech arena.
Omar Soudodi, managing director of Amazon Payment Services, says: “Through the Amazon Fintech Lab, we work with innovators and visionaries to turn exciting new ideas and concepts into transformational and disruptive forces in fintech.”
“The Lab also brings likeminded entrepreneurs and start-ups together with new and existing business partners to cultivate innovation in the fintech and digital services arena, supported by Amazon’s global expertise on new products and services, and knowledge sessions on topics related to the payments sector.”
During the launch of the DIFC Innovation Hub in May, HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, deputy ruler of Dubai and president of the Dubai International Financial Centre, paid a visit to the Amazon Fintech Lab. The DIFC Innovation Hub is the region’s largest environment aimed at fostering the startup community to drive the future of finance and future economies in the region.
“We welcome Amazon Payment Services’ first fintech lab in the world at the Innovation Hub in DIFC,” said Arif Amiri, CEO of DIFC Authority. “By choosing DIFC, Amazon has the ideal platform to grow given they are now part of the Middle East, Africa and South Asia’s largest and comprehensive financial, technology and innovation ecosystem. We are looking forward to working together to drive the future of finance.”