Amazon Pay and the Reinvention of Frictionless Transactions

Amazon Pay is an online service that allows consumers to make payments on third-party websites, using Alexa, as well as within applications. It ties in a user’s Amazon account information, allowing them to sign in and complete either a purchase or a donation. 

Merchants find this type of service useful because their customers can shop online with less friction involved. A survey conducted by Retail Touchpoints supports this, as one of the biggest deal-breakers that causes customers to refrain from buying items online is a complicated checkout process. 

With Amazon Pay, however, if a customer visits a non-Amazon website, they can still complete a transaction if the website accepts Amazon Pay. No extra registration is needed, as only a consumer’s own Amazon credentials are needed to begin the checkout process. 

Having such a service is effective when it comes to mitigating online shopping cart abandonment as well, allowing merchants to earn more with ecommerce. This is especially useful amid the current coronavirus (COVID-19) pandemic, as more and more consumers are interested in doing their shopping online as opposed to attending brick-and-mortar stores. 

For consumers who wish to make donations using either Amazon Pay or Alexa, the company has also implemented a way for individuals to easily do so. For instance, a user can say, “Alexa, make a donation to Feeding America COVID-19 Response” to help an extensive network of food banks, hereby supporting those who require assistance and emergency supplies.

“We also want to make it easy for you to help support charities who are working to help communities impacted by COVID-19,” Amazon Pay noted in a blog post. “We are making it easy to use Alexa or Amazon Pay to make a donation and assist them in their life-saving work.”

The post also provided readers with guides on how to donate to other organizations such as Save the Children and the Seattle Foundation. A full list of charities that accept voice donations can be found on the official Alexa Donations with Amazon Pay website.

The prevalence of online shopping and donation habits can also indicate an increase in the number of users who partake in online banking as a way to control their finances and make purchases. According to a forecast by eMarketer, the number of digital banking users in the U.S. will reach 166.2 million by the end of 2020. Meanwhile, this number will reach 169.8 million and 173.1 million by 2021 and 2022 respectively. 

As a merchant, being able to keep up with the latest technological advances and trends is an integral part of building a successful business. Whether a business is at the initial stages of researching effective online payment methods such as Amazon Pay or wish to integrate and update their technology, the Merchant Broker team is here to provide help in the form of personalized solutions. 

To begin taking your business to the next level, contact either 1-888-668-0733 or info@merchantbroker.com. As a global leader in brokering merchant accounts and the ultimate resource for payment acceptance, Merchant Broker helps drive success for clients across the globe. 

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