Mastercard has announced it will provide more payment solutions for Saudi Arabia’s e-commerce merchants.
This will be done through the Mastercard Payment Gateway Services technology.
The new proposition will be rolled out to local e-commerce merchants with added support from Amazon Payment Services and Checkout.com.
Mastercard has said that this will help Saudi Arabia’s e-commerce businesses by unlocking membership payments, subscriptions, automated bill payments and other business flows that require payments at regular intervals without the payer’s presence on the website or app.
Thus, it will enable quicker checkout experiences for consumers. MPGS will also help the merchants to be compliant with Saudi Payments’ requirements to route all domestic transactions through the domestic payment network, mada.
Other benefits include more conveniences, higher approval rates, fewer preventable payment declines to maximise merchant revenue and increase consumer satisfaction.
The new solutions will enable merchants to store mada card credentials for use in subsequent transactions, which is a standard for all regular Mastercard debit cards. Merchants will also be able to perform recurring payments and share their order IDs with mada for better reconciliation.
Maria Medvedeva, country business manager for Saudi Arabia and Bahrain at Mastercard, said: “We are very excited to enhance the effectiveness of our Payment Gateway technology which enables businesses to keep pace with the latest in digital payments by removing complexities from the adoption of new payment technologies.
With the launch of these new payment flows, we aim to connect and power an inclusive, digital economy that benefits everyone, everywhere by making payments safe, simple and smart for the people and businesses of Saudi Arabia.”
Peter George, managing director for Amazon Payment Services in Mena said: “As one of the region’s most trusted online payment gateways, Amazon Payment Services is committed to enabling merchants to do better at their business through simple, secure, and innovative solutions.
Leveraging Mastercard’s technology and working alongside Saudi Payments, we are proud to continue playing a key role in facilitating online payments for businesses across Saudi Arabia, and to help foster further economic growth in the Kingdom. The launch of new payment flows will empower merchants by diversifying their payment options, providing greater flexibility and peace of mind, and in turn, enabling them to delight their customers.”
MPGS also offers advanced payment processing and fraud prevention technology to merchants, micro-merchants and technology partners that are accepting mada payments.
Remo Giovanni Abbondandolo, vice president for Mena at Checkout.com said: “As global payments continue to evolve and grow more complex, the launch of these new payment flows sets mada apart as one of the most innovative and fastest growing payment systems in the region.
Checkout.com was one of the first payment technical service provider to bring mada to the ecommerce market in 2018 and we are proud to continue supporting this partnership. These solutions will help merchants and consumers to unlock more value from their transactions.”
