{"id":568016,"date":"2020-12-15T04:09:29","date_gmt":"2020-12-15T04:09:29","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/payment-news-roundup-from-visa-amazon-industry-outlook\/"},"modified":"2020-12-15T04:09:29","modified_gmt":"2020-12-15T04:09:29","slug":"payment-news-roundup-from-visa-amazon-industry-outlook","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/payment-news-roundup-from-visa-amazon-industry-outlook\/","title":{"rendered":"Payment news roundup from Visa, Amazon + industry outlook"},"content":{"rendered":"

<\/a> We have a bunch of news from the payments space that you need to know about<\/strong>, <\/strong>whether you\u2019re in retail, e-commerce or a budding fintech bro:<\/strong><\/p>\n

Digital payments and buy-now-pay-later schemes are here to stay<\/strong>, predicts Visa in its Middle East 2021 payments industry predictions report (pdf)<\/a>. The payments giant expects contactless payments to continue gaining popularity, particularly in markets such as Egypt, where ceilings on contactless transactions have doubled since the start of the pandemic, allowing consumers to make contactless payments for larger purchases. With the presence and expansion of e-commerce platforms such as Fawry, Visa also expects financial inclusion to improve \u2014 and for more businesses and consumers alike to embrace digital financial services. Tap to Phone is also expected to grow significantly in 2021\/2022, allowing small businesses to accept payment without need for a point of sale terminal.<\/p>\n

Micro and small businesses in Egypt can now set up digital salary payments<\/strong> using fintech startup Paynas\u2019 new Visa Paynas card, which it is launching with Visa and Banque Misr, according to a press release<\/a>(pdf)<\/a>. The startup is also launching a platform that gives small businesses access to HR and financial tools. \u201cSmaller companies face pervasively larger challenges in terms of workforce management, along with availing financial offerings and other benefits to their employees,\u201d said Paynas CEO Mohamed Mounir.<\/p>\n

ALSO FROM PLANET FINTECH- Amazon rebranded its payment service in MENA <\/strong>yesterday:<\/strong> The e-commerce giant rebranded UAE fintech startup Payfort<\/a> \u2014 which it bought as part of its Souq acquisition in 2017 \u2014 as Amazon Payment Services, according to a company release (pdf)<\/a>. Amazon Payment Services offers payment processing, installments and monitoring of payment performance. The service has already attracted partners such as local card scheme Meeza, as well as international card schemes such as Visa, and MasterCard.<\/p>\n","protected":false},"excerpt":{"rendered":"

We have a bunch of news from the payments space that you need to know about, whether you\u2019re in retail, e-commerce or a budding fintech bro: Digital payments and buy-now-pay-later schemes are here to stay, predicts Visa in its Middle East 2021 payments industry predictions report (pdf). The payments giant expects contactless payments to continue […]<\/p>\n","protected":false},"author":1,"featured_media":568017,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8814],"tags":[318,576,72,183,4295,8813,1313,2964],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-payments","tag-amazon","tag-banque-misr","tag-enterpriseam","tag-fintech","tag-payfort","tag-payments","tag-paynas","tag-souq","wpautop","entry"],"acf":{"mongo_id":"2578e247-6dc5-4763-840c-559e5f5bde1b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/266.jpg","photo_position":"above","related_issue":[568008],"teaser":"","voice_url":""},"yoast_head":"\nPayment news roundup from Visa, Amazon + industry outlook - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/payment-news-roundup-from-visa-amazon-industry-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Payment news roundup from Visa, Amazon + industry outlook\" \/>\n<meta property=\"og:description\" content=\"We have a bunch of news from the payments space that you need to know about, whether you\u2019re in retail, e-commerce or a budding fintech bro: Digital payments and buy-now-pay-later schemes are here to stay, predicts Visa in its Middle East 2021 payments industry predictions report (pdf). 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Some 88% of consumers surveyed said they had high confidence in e-payments, with those who\u2026","rel":"","context":"In "Fintech"","block_context":{"text":"Fintech","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/fintech\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/295.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557641,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/27\/central-bank-to-issue-mobile-contactless-payment-licenses\/","url_meta":{"origin":568016,"position":1},"title":"Central bank to issue mobile contactless payment licenses","author":"enterpriseam admin","date":"27 September 2021","format":false,"excerpt":"Merchants will soon be able to accept contactless payments through their mobile devices as the Central Bank of Egypt said yesterday in a statement (pdf) that it will begin issuing licenses allowing mobile contactless payments. 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