The Amazon Fintech Lab is located in the DIFC Innovation Hub and is run by Amazon Payment Services, a payment processing service for the Middle East and North Africa area.
According to reports, the project is the latest in Amazon Payment Services’ attempts to help the MENA Fintech sector. The Lab’s goal is to provide a venue for conversation on virtual payments and the Middle East’s Fintech future.
The objective of the Amazon Fintech Lab is to encourage Fintech innovation through networking and cooperation possibilities with DIFC’s ecosystem of small companies, financial institutions, and early-stage startups.
The project will organize a variety of activities in which industry and ecosystem stakeholders, as well as professional teams, will participate in forums. They’ll talk about the many payment issues or pain spots and try to come up with creative ways to meet the needs.
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These initiatives should help Amazon Payment Services achieve its aim of reimagining the virtual payments experience for users and merchants in the Middle East and North Africa (MENA).
Omar Soudodi, Managing Director of Amazon Payment Services, stated:
“Through the Amazon Fintech Lab, we work with innovators and visionaries to turn exciting new ideas and concepts into transformational and disruptive forces in fintech. The Lab also brings likeminded entrepreneurs and start-ups together with new and existing business partners to cultivate innovation in the fintech and digital services arena, supported by Amazon’s global expertise on new products and services, and knowledge sessions on topics related to the payments sector.”
Arif Amiri, CEO at Dubai International Financial Centre Authority, remarked:
“We welcome Amazon Payment Services’ first Fintech lab in the world at the Innovation Hub in DIFC. By choosing DIFC, Amazon has the ideal platform to grow given they are now part of the Middle East, Africa and South Asia’s largest and comprehensive financial, technology and innovation ecosystem. We are looking forward to working together to drive the future of finance.”
Amazon Fintech Lab Africa Amazon Fintech Lab (North Africa
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
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