‘Pay with Amazon’ to work for third party transactions as well

By : |January 23, 2017 0

Amazon India has tied up with twenty-five third-party online stores to allow users to ‘Pay with Amazon’ on third party websites as well.

According to a Times of India report,  ‘Pay with Amazon’ is partnering with brands like Crocs, Sennheiser, Cafe Coffee Day and is also on boarding platforms such as Kartrocket and Zepo to incorporate a new payment option using either saved card details and pre-paid balance on Amazon for checkouts.

Amazon’s payment gateway is a result of a year of hard work and concerted efforts including the hiring of Sriraman Jagannathan, as vice-president to head the payments vertical.

                                 

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“Through our partnership with banks, we have reduced payment friction by improving the reliability of the two-factor authentication, thereby increasing convenience for customers transacting on mobile or on patchy networks,” Jagannathan told TOI. The integrated banks include SBI, HDFC, ICICI, Citibank and others to reduce friction in the transaction.

The e-commerce platform is relying on cashback and refunds to promote its product. During its recently concluded sale between January 20 and January 22, the platform was incentivising users to transact using Amazon Pay Balance for 15 percent cash back.

Incidentally, the strategy did reap in rich output with a 30x growth in usage of Amazon Pay Balance with users adding money to the wallet, and the number of new users grew by 360 percent during the sale period.

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