Competitor Profile: Amazon Pay

Competitor Profile: Amazon Pay

Summary

Amazon Pay was launched in 2007 as Pay with Amazon, before being rebranded to its current name. 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 its 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. It also ventured into in-store payments with its launch of QR code-based in-store payments. In addition, it launched Amazon Pay for small businesses, enabling SMEs to accept in-store payments through Amazon Pay.

The report provides information and insights into alternative payment solution Amazon Pay including -
- Detailed insight into its business
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its revenue model
- The company's important events and milestones

Scope

- Amazon Pay was launched in 2007 as Pay with Amazon. Rebranded as Amazon Pay in 2017.
- Amazon enables users to make voice-based donations to charities using its virtual assistant Alexa.
- Amazon offers its Amazon Pay Balance digital wallet to customers in India.
- In October 2019, Amazon launched voice-based utility bill payment service for customers in India through Amazon’s Alexa. The company plans to launch this feature in the US in the near future.

Reasons to buy

- Gain insights into Amazon Pay's business operations and key events.
- Gain insights into its product portfolio and revenue model.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.