Amazon's PayFort changes brand to Amazon Payment Services
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, Amazon Payment Services managing director 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 still operate as a payment service provider in allowing companies 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 payment methods that customers will use on their sites, including the installment payment option. The rebrand of Amazon Payment Services is part of an aggressive multi-year strategy to add payment capabilities at Amazon.
The process also helps repeat buyers bypass redundant steps to establish a smoother payment experience and access security features to reduce fraud and store card details, according to Soudodi.