Saudi Arabia's PayTabs Group and Amazon Payment Services have agreed to a transaction that would transfer Amazon's Middle East and North Africa (Mena) payments operations to PayTabs in a deal that would significantly consolidate the region's fragmented payments landscape.

PayTabs has spent years building banking connectivity, regulatory licenses and AI-driven payment infrastructure largely outside the spotlight.

The transaction would bring that strategy into sharper focus, significantly expanding the Saudi-born company's scale and position in the regional payments market, said the Saudi group in a statement.

Both parties have approved the transaction, the deal valued north of $100 million. The agreement would cement PayTabs' position as the largest Mena payments infrastructure provider with proprietary end-to-end solutions spanning payment processing, automated switching and payouts on a single platform.

Continuity is expected to be a priority, with minimal disruption anticipated during the integration, alongside faster onboarding and stronger local compliance across the combined operation, said the statement.

The deal would significantly increase PayTabs' regional scale, with the combined entity expected to process more than SAR150 billion annually, it added.-TradeArabia News Service