Amazon Acquires Electronic Payment Platform “Befort”

Mar

28

2017

The deal is part of an Amazon acquisition on Souq.com
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As part of the acquisition of Amazon Middle East, Amazon announced on Tuesday that it has acquired an online payment platform called PayFort .

“Our dedicated team has helped thousands of traders in many countries in the region to establish relationships with our banking partners and to design payment experiences to increase remittance on different trade channels from the web,” Befort said in a statement. , Mobile, and others to reduce the risks associated with doing business online. ”

The announcement of the acquisition of Amazon on Befort coincides with the first announcement of an agreement to buy the largest retail company in the Middle East, Souq.com.

“Samsung’s joining the Amazon family will enable it to continue growing as well as working with Amazon to bring more products and offerings to customers worldwide,” the US e-commerce giant said in a statement. The financial details of the deal were not disclosed.

About 78% of the e-commerce market in the Middle East and North Africa is located in Dubai, United Arab Emirates.

Established more than 10 years ago, it offers 8.4 million products on its website, and has recently started selling books and vegetables. For comparison, Amazon provides more than 40 million products.

Established in 2005 as an auction site, it was linked to the Maktoob portal, but became an e-commerce platform in 2011.

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