01 October 2016
Find out more

Amazon unveils subscription payments management service for startups

09 June 2014  |  6371 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)

Finextra news in your inbox

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

Related stories

Amazon links Twitter accounts to shopping basket

Amazon links Twitter accounts to shopping basket

06 May 2014  |  3819 views  |  0 comments | 8 tweets | 6 linkedin
Amazon to move into P2P and in-store payments

Amazon to move into P2P and in-store payments

30 January 2014  |  12297 views  |  2 comments | 28 tweets | 25 linkedin
Amazon reportedly buys m-commerce firm GoPago

Amazon reportedly buys m-commerce firm GoPago

17 December 2013  |  6588 views  |  0 comments | 14 tweets | 5 linkedin
Amazon challenges PayPal with 'Login and Pay with Amazon'

Amazon challenges PayPal with 'Login and Pay with Amazon'

09 October 2013  |  12560 views  |  0 comments | 22 tweets | 14 linkedin

Related blogs

Create a blog about this story (membership required)
Visit i2cinc.comVisit www.abe-eba.euFind out more

Top topics

Most viewed Most shared
Ripple rudely gatecrashes Sibos partyRipple rudely gatecrashes Sibos party
11434 views comments | 35 tweets | 33 linkedin
BNP Paribas is working with clients on blockchain deploymentBNP Paribas is working with clients on blo...
8787 views comments | 16 tweets | 32 linkedin
Banks ready for real-world blockchainBanks ready for real-world blockchain
7294 views comments | 22 tweets | 30 linkedin
hands typing furiouslyCan Blockchain Prevent Money Laundering?
6890 views 0 | 24 tweets | 9 linkedin
PayPal and Lenovo team on biometric authentication for laptopsPayPal and Lenovo team on biometric authen...
6867 views comments | 13 tweets | 16 linkedin

Featured job

Find your next job