Amazon Web Services (AWS), the global cloud services provider, has added the naira and other currencies to its payment catalog.
In an update, the firm said, “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).”
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It noted that payments in local currencies are important to help customers avoid the costs of payments in foreign currencies.
“It removes payment friction for customers in countries where local regulations put limits on the foreign currency amount a customer can access,” it added. This development is crucial as startups and business owners grapple with the rising costs of cloud services owing to FX volatility.
To solve this, homegrown 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 despite the presence of local players.
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