To support the Central Bank of Egypt's initiative to prop up small local businesses, Amazon Payment Services will waive all account setup and maintenance fees for MSMEs in Egypt.
Amazon Payment Services, a payment processing service in the MENA region, has announced that it will waive all fees for new businesses aiming to benefit from its services in Egypt. Amazon Payment Services will waive all account setup and maintenance fees for Micro, Small & Medium Enterprises (MSMEs) for its digital payment service. The move aligns with Amazon Payment Services’s mission to provide businesses with simple, affordable and trusted online payment experiences, and the Central Bank of Egypt's (CBE) initiative to prop up small local businesses.
“We are pleased to be supporting the CBE’s drive to help Egyptian businesses digitise and scale online,” Omar Soudodi, Managing Director of Amazon Payment Services, said. “At a time when many small businesses are facing unprecedented challenges in the face of COVID-19’s restrictions and social distancing measures, the importance of building their online presence has never been greater.”
This policy will last throughout the month of Ramadan, until the end of June 2021. Amazon Payment Services implemented the policy in tandem with its partner banks in Egypt, Commercial International Bank (CIB) and Banque Misr, as well as Robusta and zVendo.