Amazon Group’s global cloud services provider, Amazon Web Services (AWS) has added the naira and other currencies to its payment catalog. In a shared press statement, the company noted that the development is part of plans to add eight new local currencies to the existing ones.
While highlighting the new update, the American digital marketplace listed the naira among other currencies customers can deploy for transactions.
“In addition to the currencies already supported, AWS US customers can choose to pay in Chilean Peso (CLP), Colombian Peso (COP), and Uruguayan Peso (UYU). Similarly, AWS Europe customers can pay in Egyptian Pound (EGP), Nigerian Naira (NGN), Polish Zloty (PLN), Romanian Leu (RON), and Ukrainian Hryvnia (UAH),” the statement explained.
The company likewise noted that payments in local currencies are essential as they prevent customers from additional costs of payments in foreign currencies. It added that the means also removes payment friction for customers in countries where local regulations put limits on the foreign currency amount a customer can access.
“Local currencies are important in localizing the payment experience for customers. With payments in their local currencies, customers can avoid foreign exchange costs associated with making foreign currency payments,” part of the statement reads.
In a recent development in October, AWS announced support for sellers and channel partners to create contract pricing private offers in four new currencies. The company also chose non-US bank accounts for disbursement. These features make it easier for sellers and buyers to do business globally by simplifying funds flow.
Amazon also introduced a medium where sellers can create private offers with contract pricing in EUR, GBP, JPY, and AUD. They can also receive their disbursements in the offer currency where they are no longer required to have a US-domiciled bank account.
In a bid to solve the fraction of payments in local currencies, several cloud providers have begun to spring up to solve the problem of foreign exchange by offering local pricing options. Offering a new payment option allows AWS to maintain its relevance in Nigeria.
Amazon’s investment in data centers
As part of its plan to expand its cloud computing services, Amazon announced that it will invest more than $5 billion in a data centre in central Mexico. The e-commerce giant said that it is part of a push by big tech to add more storage facilities to meet the needs of AI.
As the world’s biggest cloud computing company, AWS possesses data centres scattered across the globe storing the flood of data from billions of smartphones, tablets, and other connected devices. AWS already has a data centre in Brazil and has announced plans for another two in Chile.
With the emergence of generative AI making demand for data storage bigger than ever, leading tech giants such as Google, Microsoft, and Amazon have announced plans to spend massively on building new infrastructure around the world.
Meanwhile, data centres have drawn concerns from environmentalists over their massive energy consumption. There were claims that they could put a massive burden on the local power supply, straining already fragile electricity grids.
A court in Chile recently forced Google, which is planning a huge new data centre in the capital Santiago, to go back to the drawing board after it submitted plans for a cooling system that would consume a staggering seven billion litres (1.85 billion gallons) of water per year. Google later came up with a new, much less water-intensive cooling model.
Late last year, Amazon told AFP News that it aimed to make all its data centres “water-positive” by 2030, meaning it would conserve or put back more water than it uses.
Also in a bid to build its e-commerce, the group unveiled its online marketplace in South Africa last year. Amazon also said that customers in the country will be able to shop from a wide variety of both local and international brands. It also said they would enjoy same-day and next-day delivery of their orders.
Amazon said that South African businesses of all sizes will be able to sell their products on the online marketplace tailored specifically for them. The platform also guarantees access to easy onboarding tools, payment processing tools, reports, and analytics to help these businesses improve their sales on the platform.
Read More: Amazon launches online marketplace in South Africa, to offer same-day/next-day delivery.
Technext Newsletter
Get the best of Africa’s daily tech to your inbox – first thing every morning.
Join the community now!
