14 February 2016

Amazon unveils subscription payments management service for startups

09 June 2014  |  6023 views  |  0 add to basket

Amazon is muscling in on PayPal's territory, taking advantage of its massive customer-base to offer companies a subscription payments management service.

The e-commerce giant's new service will see it act as a middleman between firms such as mobile network operators and subscription-based music providers and their customers, according to Reuters.

Amazon's 240 million customers who have their card details stored with the firm will be able to pay their monthly bills through the service, with Amazon taking a fee on each transaction.

The new tool is being aimed at smaller startup firms that might have trouble convincing customers to hand over their card details, Amazon VP of seller services Tom Taylor, tells Reuters.

Today's full launch comes after several months of testing with firms including mobile phone startup Ting, which saw a 30% increase in spending among customers who used the recurring Amazon payments system.

KeywordsE-COMMERCE

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

06 May, 2014
30 January, 2014
17 December, 2013
09 October, 2013
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
UK sets out open banking API frameworkUK sets out open banking API framework
16729 views comments | 108 tweets | 91 linkedin
Deutsche Bank calls for co-operation with fintech firms on B2B servicesDeutsche Bank calls for co-operation with...
9319 views comments | 30 tweets | 30 linkedin
How to accelerate your fintech startupHow to accelerate your fintech startup
9013 views comments | 35 tweets | 10 linkedin
Is Paym a failure?Is Paym a failure?
7358 views 16 comments | 23 tweets | 16 linkedin
Visa issues API to offer consumer control over card transactionsVisa issues API to offer consumer control...
6699 views comments | 17 tweets | 28 linkedin

Featured job

£100,000 basic, £180,000 OTE + Benefits
London

Find your next job