Amazon looks to compete with PayPal and Apple Pay with launch of “Pay with Amazon” button

US-based online retailer Amazon is introducing “Pay with Amazon” buttons in mobile apps, a bid to enter payments business similar to PayPal and Apple Pay.

The new feature is similar to that of a digital wallet enabling Amazon users to simply touch the Pay option with Amazon button on their smartphones or tablets and make payment for their purchase. However, Pay with Amazon works only in select stores.

The online retailer is also introducing the Pay with Amazon buttons on its website in Japan, to test the feature in international market. The move marks the company's latest effort to capitalize on its 200 million customer base by processing payments on its website.

This year also saw Amazon hire PayPal veteran Patrick Gauthier to lead a team created specifically to set up the payments business across the web and app world.

This is not Amazon's first effort at entering the payments business. It has taken the initiate several times. For instance, the company's digital wallet project was discontinued earlier this year before it even reached beta testing stage, reported Re/Code.

Recently, the company introduced a one-click Dash button program to draw customers to buy toilet paper, laundry detergent, gum, trash bags and priobiotic supplements. The Dash button is an internet-enabled small electronic device that allows customers to place orders on things such as paper towels and laundry detergent with a click of a button.

Among its diversification plans, it was revealed yesterday that the company is considering launching its own apparel line. All this while, Amazon Fashion's efforts have been focused on convincing clothing brands to sell their goods on its website for low prices and with improved presentation. Amazon has considered food and apparel as two segments where it aims to tap opportunities in coming years.

Source : Retail Business Review
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