PayTabs to Buy Amazon’s MENA Payments Arm for Over $100 Million

Amazon Payment Services traces its roots to PayFort, founded in 2013 and absorbed by Amazon through its $580 million acquisition of Souq.com in 2017. Rebranded under its current name in 2020, the business helps more than 3,500 merchants accept digital payments across nine Middle East and North African markets, supporting international card networks including Visa and Mastercard as well as local systems such as mada, Knet and Meeza.

PayTabs and Amazon Payment Services disclosed the agreement on Sept. 5, 2026, valuing the transaction at more than $100 million. Both companies have approved the deal, though the exact price and completion date were not disclosed. The combined operation is expected to process more than 150 billion Saudi riyals annually and unite payment processing, automated switching and payouts on one platform, positioning Saudi-founded PayTabs as the MENA region’s largest payments infrastructure provider.