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Amazon Payment Services Launches New Initiatives To Support SMEs and Families in Need During Ramadan

Amazon Payment Services, a payment processing service in the Middle East and North Africa (MENA) region, has recently announced two new initiatives to support both SMEs and families in need during a time of unprecedented uncertainty within the region.

Supporting an initiative launched by the Central Bank of Egypt (CBE) to encourage the transition to
digital payments in Egypt, Amazon Payment Services has recently announced that it will waive all account setup and maintenance fees for Micro, Small, and Medium Enterprises (MSMEs) for its digital payment service throughout the month of Ramadan until the end of June 2021.

Omar Soudodi, Managing Director, Amazon Payment Services
Omar Soudodi, Managing Director, Amazon Payment Services

“We are pleased to be supporting the CBE’s drive to help Egyptian businesses digitise and scale online. At a time when many small businesses are facing unprecedented challenges in the face of Covid-19’s restrictions and social distancing measures, the importance of building their online presence has never been greater,” comments Omar Soudodi, Managing Director of Amazon Payment Services. “Enabling seamless, reliable, and affordable digital transactions for Micro, Small & Medium Enterprises (MSMEs) will help them to boost their revenue streams.”

Amazon Payment Services implemented the policy in tandem with its partner banks in Egypt, Commercial International Bank (CIB) and Banque Misr, as well as Robusta and zVendo.

“Our ongoing digitalisation initiatives have demonstrated huge success recently, as we achieved the highest growth rate in e-commerce & QR code transactions in Egypt Y2020,” comments Ihab Dorra, Head of Retail & Branches at Banque Misr. “Our strategy includes a focus on fintech and we are looking forward to utilizing our partnership with Amazon Payment Services to make facilitating payments even easier and will be offering our merchants some attractive benefits such as no setup fees or monthly fees, and exclusive rates for card and wallet payment. This comes in light of the Bank’s strategic vision to facilitate payment transactions for Egyptian citizens and in supporting the state efforts towards financial inclusion.”

Amazon Payment Services processes transactions for thousands of businesses across multiple industries,
ranging from aviation to travel and tourism, retail, insurance, real estate, government, and more. With
such a diverse customer base, it has built strong expertise that supports businesses at every scale, from
small and medium enterprises (SMEs) looking to establish their online presence to large-scale
enterprises requiring a dependable payment service to handle high volumes of transactions safely.

This wavering of fees and the growing intention to further support small businesses comes suitably in tandem with Amazon’s latest announcement, which states that it will contribute to more than one million meals to families in need across UAE, Saudi Arabia, Egypt, and Jordan during the Holy month of Ramadan.

The programme takes a hands-on approach, with hundreds of Amazon employees working alongside community partners to pack food hampers at Amazon’s Fulfillment Centres across the Arab World, with Amazon leveraging its scale to support the community.

said: “In light of the month of Ramadan, Amazon is delighted to continue supporting food charities across the region,” comments Ronaldo Mouchawar, Vice President of Amazon Middle East and North Africa (MENA). “With our ability to innovate quickly and experience in logistics and delivery, we are helping to get more than one million meals into the hands of those who need them the most throughout the month of giving.”

Partnering with regional food banks and charities, Amazon will provide a combination of products, services, and monetary donations, including grocery supplies and packaging materials. This will result in approximately 1,074,080 meals reaching underserved and underprivileged families in the safety of their homes, following the necessary social distancing and safety guidelines in each country.

Iman Albastaki, Head of Food Safety Department at Dubai Municipality and Member of the UAE Food Bank Committee added, “The UAE Food Bank’s mission is to help the people in need while reducing food waste. Ramadan has always been the month of giving and helping others, and it is our pleasure to be partnering with Amazon this Ramadan. We feel very passionate about the work we do, and we value the partnerships we have with the private sector who are always keen to give back and share the same passion.”

Since the start of the global pandemic, Amazon has played a vital role in delivering daily essentials to customers in the safety and comfort of their homes, while prioritising the health and safety of its employees, customers, and partners.

“Amazon has a longstanding commitment of working alongside community partners to find practical solutions. We are driven by the belief that no family should have to make trade-offs to meet their basic needs and we are delighted to partner with organisations who share our commitment,” comments Prashant Saran, Director of Operations for Amazon Middle East and North Africa (MENA). “With the holy month of Ramadan looking a little different this year, our meal donation programme is designed to utilise our assets including scale, logistics and technology, for the benefit of the community. By harnessing Amazon’s unique spirit of innovation and collaboration, we are honoured to have the opportunity to support the community through a million meals.”

Amazon harnesses a unique spirit of innovation, determination, and passion within its people to strengthen the communities where its employees live and work. These Ramadan campaigns are part of the company’s global community engagement pillar, Right Now Needs, which seeks to eliminate the impossible choices posed by poverty, homelessness, hunger, and natural disasters.

Author

  • Tyler is a Fintech Junior Journalist with specific interests in Online Banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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