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Amazon unveils subscription payments management service for startups

09 June 2014  |  6295 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.

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