29 June 2017
visit www.finastra.com

Amazon unveils subscription payments management service for startups

09 June 2014  |  6696 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  |  4134 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  |  12892 views  |  2 comments | 28 tweets | 25 linkedin
Amazon reportedly buys m-commerce firm GoPago

Amazon reportedly buys m-commerce firm GoPago

17 December 2013  |  7006 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  |  12992 views  |  0 comments | 22 tweets | 14 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.events.sap.comdownload the report nowvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
ECB preps eurozone-wide instant payments serviceECB preps eurozone-wide instant payments s...
9396 views comments | 19 tweets | 38 linkedin
ABN Amro tests wearable tech for contactless paymentsABN Amro tests wearable tech for contactle...
9059 views comments | 10 tweets | 6 linkedin
hands typing furiouslyThe EU and blockchain: taking the lead?
7775 views 0 | 8 tweets | 8 linkedin
Mastercard eyes opportunities to profit from sharing economyMastercard eyes opportunities to profit fr...
7532 views comments | 6 tweets | 6 linkedin
Body blow for PayKey as Apple orders Westpac off its turfBody blow for PayKey as Apple orders Westp...
7168 views comments | 12 tweets | 14 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job