What is Amazon Pay? Amazon Pay Review

history

In 2014, Amazon launched its own electronic wallet (Amazon Wallet), the main function of which is to store various personal qualification cards including gift cards and third-party merchant cards. However, in January 2015, Amazon Wallet was abandoned. In 2015, Amazon launched "Pay With Amazon" for third-party mobile applications. The main person in charge of this project, Patrick Gauthier, came from PayPal, a well-known third-party payment service provider in the United States.  

develop

The number of users using Amazon Pay for payments almost doubled in 2016, with 32% of users using Amazon Pay on their mobile phones.

In June 2016, Google announced that it would stop supporting the Google Wallet debit card service and switch to the mobile payment service Android Pay.

In February 2017, Amazon released figures showing that 33 million consumers used Amazon Pay for transactions, doubling the number in 2016. More than 133 merchants accept Amazon Pay as a payment method.

In April 2017, Amazon announced the launch of Amazon Pay in France, Italy and Spain, enabling users to purchase goods on third-party websites using their Amazon accounts.  

cost

For purchases within the United States, Amazon charges $0.30 + 0.29% transaction processing fee for each transaction. For international purchases, Amazon's transaction processing fee is 3.9%.

Advantages

1. Increase customer coverage

Amazon Pay helps you acquire and retain a large number of Amazon customers by leveraging their trust in the Amazon brand.

2. Reduce Shopping Cart Abandonment

Amazon Pay’s fast and easy checkout process can increase conversions and reduce shopping cart abandonment.

3. Match the way your customers like to shop

Amazon Pay provides a seamless checkout experience across desktop, mobile, and voice — making it easy for customers to make purchases anywhere.

invest

In May 2017, according to documents from the Indian Company Registrar, Amazon Pay, a payment service under e-commerce giant Amazon India, received 670 million Indian rupees (about 10.46 million US dollars) in funding from Singapore's Amazon Corporate Holdings Pvt Ltd and its US parent company Amazon Inc.

References

• 1. Amazon finally launches Amazon Pay, Alipay users should be careful: Sohu [cited on 2017-11-16]
• 2. How does the latecomer Amazon Pay participate in the payment siege: China Electronic Banking Network [cited on 2017-11-20]
• 3. Amazon Pay Advantages: Official Website [cited on 2019-01-10]