PayTabs strikes $100 million-plus deal for Amazon’s MENA payments business

Saudi payments company PayTabs has agreed to buy Amazon Payment Services’ Middle East and North Africa operations in a transaction reported at more than $100 million. This is not Amazon’s consumer checkout product: it is the behind-the-scenes service that lets businesses accept online payments, manage fraud, and offer local payment methods and installments. The combination would pair PayTabs’ regional payments infrastructure with Amazon’s merchant operation, creating a regional platform expected to handle more than SAR150 billion in payments a year.