March 28, 2017
Dear Merchants and Partners,
Today as part of Souq Group Inc. we are pleased to officially announce that PayFort International Inc. and its subsidiaries will be acquired by Amazon. through Amazon’s acquisition of the Souq Group. We are excited about the future opportunities that are ahead of us as part of Amazon.
PayFort was established in 2013 to “solve the payment problem in the Arab World” and our dedicated team have been helping thousands of merchants in many countries around the region with establishing relationships with our acquiring bank partners, designing payment experiences to increase conversions on our merchant’s various channels from web, mobile and others to minimizing the risks associated while conducting business online.
In the last few years we have spent a lot of time listening to companies & organizations in the Arab World “both big and small” to address payment challenges and help companies capitalize on opportunities which lead us to launching products such as “The FORT, Installments” to the marketplace helping companies & organizations with addressing some of their online payment challenges such as decreasing failed transactions, increasing trust on checkout and building tools that facilitate companies to build their own payment stack. Our mission will continue to serve our merchants and work with various stakeholders to further develop the payment space.
Again, I would like to express our gratitude and we appreciate our customers who already chosen us for their online payment needs and we greatly appreciate the relationship with all our financial partners and look forward to continue serving your needs.