Cairo – Mubasher: Amazon Payment Services announced that it will waive all fees for new businesses wishing to use its digital payment services in Egypt.

This move will support a recent initiative launched by the Central Bank of Egypt (CBE) to accelerate the transition to digital payments in the country, Amazon's payments processing unit said in a statement on Tuesday.

All account setup and maintenance fees for digital payment services will be waived for micro, small, and medium enterprises (MSMEs) throughout the month of Ramadan until the end of June 2021.

This policy is implemented in tandem with its partner banks in the country, Commercial International Bank-Egypt (CIB) and Banque Misr, in addition to Robusta and zVendo.

“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,” Soudodi noted.