Alternative Payment Solution: Amazon Pay
Amazon Pay was launched in 2007 as Pay with Amazon, before being rebranded as Amazon Pay. The solution enables users to pay for purchases on third-party partner merchant websites and apps using payment methods saved on the user’s Amazon profile. In the US, Amazon Pay accepts credit and debit cards from major scheme providers including Visa, Mastercard, Discover, American Express, Diners Club, and JCB. Users can also make payments using their Amazon account balance. In India, Amazon offers the Amazon Pay Balance digital wallet, enabling customers to load funds and make purchases on Amazon.in and partner merchant websites and apps.
In July 2017, Amazon Pay introduced a new payment service called Amazon Pay Places, which allows users to make purchases from offline stores via mobile app. This was launched in partnership with restaurant chain TGI Fridays, enabling users to browse the TGI Fridays menu and place their order directly through the app.
Apart from purchases, Amazon Pay also enables users to make donations to charities, in collaboration with its voice-based virtual assistant Alexa. Users can give voice commands to their Echo device to initiate donations via Alexa and complete the payment through Amazon Pay.
The report provides information and insights into alternative payment solution Amazon Pay, including -
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