PayTabs buys Amazon Payments for $100M

Saudi PayTabs Group announced the signing of a deal to acquire Amazon Payments operations in the Middle East and North Africa region, with a value exceeding $100 million. The transaction aims to strengthen PayTabs' position in the regional payments market and unify the payment ecosystem across the region, thereby accelerating integration between payment infrastructure and banking services. The company expects the combined entity's annual transaction value to surpass 150 billion Saudi riyals, and believes that the deal will help build a unified platform to support expanding payment operations and enhance regulatory compliance. The move is intended to improve operational efficiency and expand PayTabs' services across the Middle East and North Africa markets.

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