BUSINESS SURVEILLANCE

The shift to digital commerce has provided consumers with a greater array of services at their fingertips and customers now expect seamless , quality online shopping experiences . Peter George , Managing Director , Amazon Payment Services , highlights how the payment services industry has transformed , why merchants need to keep a close eye on customer experience and how Amazon Payment Services champions the provision of secure , seamless and convenient services for end-users .

How has the payment services industry transformed and what has caused that transformation ?

The overarching shift in the payment services industry over the past several years has been the rise of digital payments , which is being propelled by consumer demand , government strategies and innovation in the FinTech and electronic payments sectors .

Digital payment adoption was already on an upward trajectory in the Middle East prior to 2020 and was further accelerated by the outbreak of the COVID-19 pandemic .

Customers in the Middle East have a strong appetite for digital payments , recognising the convenience , security and speed provided .

In particular , the digital payments sphere in the United Arab Emirates ( UAE ) is a highly dynamic and thriving space , partly driven by government strategies designed to promote the growth of the local digital economy .

We are seeing several FinTech startups innovate in the digital payments sphere to eliminate customer pain points and make cashless payments available to more people .

Peter George , Managing Director , Amazon Payment Services

We were very proud to launch the Amazon Fintech Lab in the DIFC Innovation Hub in Dubai earlier this year , providing a forum for important discussions on digital payments and the future of the FinTech industry .

How has this transformation impacted customer expectations in terms of customer experience and providing robust security ?

Digital payments have unlocked new horizons in terms of customer experience . Customers now expect secure , seamless and convenient purchase experiences , from the moment

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