SEATTLE (11/2/15)--Amazon has made a move to enter the payments business. The e-commerce giant announced last week it will launch Pay with Amazon on mobile apps and select overseas websites.
Pay with Amazon will allow e-commerce shoppers to make mobile and online purchases with their Amazon payment credentials (CNBC Oct. 30).
Amazon first announced Pay with Amazon in 2013. Earlier this year, Amazon hired Patrick Gauthier from PayPal to lead its external payments initiative. It remains to be seen whether retailers will allow the logo of a competitor that sells virtually every type of merchandise imaginable reside on its website.
Gauthier said companies that add an Amazon payment option are more likely to see completed purchases. People who place items in their online shopping cart tend to finish the purchase more often than they would otherwise, Amazon found.