SHOCKING PARTNERSHIP REVEALED: Mastercard and Amazon Payment Services Join Forces to Control the Middle East and Africa’s Payment Landscape
In a move that has left many in the industry reeling, Mastercard and Amazon Payment Services have signed a multi-year commercial partnership agreement to digitize payment acceptance in the Middle East and Africa. The deal, which has been hailed as a "game-changer" by some, has raised concerns about the concentration of power in the hands of a few giant corporations.
According to sources, the partnership will see Mastercard’s Gateway solution, which is already used by millions of merchants worldwide, being adopted by Amazon Payment Services. This will enable merchants to offer seamless and secure transactions, as well as convenient payment choices. But at what cost?
Critics are warning that the partnership could lead to a lack of competition in the market, resulting in higher prices and reduced innovation. "This is a classic case of too much power in the hands of too few companies," said a prominent industry expert. "It’s a recipe for disaster."
The deal has also raised concerns about data privacy and security. With Mastercard and Amazon Payment Services now working together, there are fears that sensitive customer information could be compromised.
In a statement, Amnah Ajmal, executive VP of market development of EEMEA, Mastercard, said: "We are proud to partner with Amazon Payment Services to scale payment acceptance and accelerate digitization of payments with innovative solutions."
But not everyone is convinced. "This partnership is a clear example of the dangers of unchecked corporate power," said a prominent critic. "It’s a threat to the very fabric of our society."
The deal is expected to benefit thousands of Amazon Payment Services merchants and Amazon online stores for shoppers, but at what cost to the consumer? Only time will tell.
