Amazon-owned PayFort has changed its name to Amazon Payment Services and will offer installment payments to the markets it serves in the Middle East and North Africa.
Dubai-based PayFort will remain “a highly secure online payment service that is easy to use” and integrate, CEO of Amazon Payment Services Omar Soudodi stated in a letter on the company website. PayFort will now have the benefit of Amazon’s global reach and technology benefits, he added.
Amazon Payment Services will continue to function as a payment service provider by enabling businesses to accept a wide range of payment types, including Visa and Mastercard, as well as local methods such as Knet, Naps and Meeza.
Not to be confused with Amazon Pay, the payment services company allows third party companies to choose the payment methods that customers will use on their sites, including the installment payment option. The rebranding of Amazon Payment Services is part of an aggressive, multi-year strategy to add payment capabilities in Amazon.
The process also helps regular shoppers avoid redundant steps to establish a more seamless checkout experience and access security features to reduce fraud and store card details, according to Soudodi.