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 October 2017, Amazon partnered with card processing solutions provider Clover, enabling users to make takeout orders at restaurants using the Clover POS service via the Amazon app. It also entered the in-store payments space with its launch of QR code-based in-store payments. And in April 2021 it launched the Amazon Pay For Business app, enabling over 5 million SMEs to accept in-store payments through QR codes in India.

In addition to in-store and online payments, Amazon Pay also provides credit cards and loan facilities. In October 2018, Amazon partnered with ICICI Bank to introduce a Visa-branded credit card for Amazon customers. As of July 2021, there were 2 million of these cards in circulation. In April 2020, Amazon Pay introduced the Amazon Pay Later instant credit service in partnership with online credit solutions provider Capital Float and Karur Vysya Bank (KVB) in India. The service enables users to obtain digital credit, which can be used to make purchases on the Amazon website. It also ventured into auto insurance via a partnership with ACKO General Insurance in July 2020.

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

Scope

- In 2007, Amazon Pay was launched as Pay with Amazon. Rebranded as Amazon Pay in 2017.
- In July 2017, Amazon Pay launched Amazon Pay Places, enabling users to make in-store payments using the Amazon app in the US.
- In January 2019, Amazon Pay launched Amazon Pay for small businesses, enabling SMEs to accept in-store payments through Amazon Pay.
- In April 2020, Amazon Pay launched Amazon Pay Later, an instant credit service, in partnership with Capital Float and KVB in India. The service enables users to obtain digital credit, which can be used to make purchases on its Amazon shopping website.
- In April 2021, Amazon Pay introduced Amazon Pay for Business app in India, enabling SMEs to accept digital payments via Amazon Pay QR codes. Customers can initiate payments by scanning the QR code via any UPI-based payment app.

Reasons to Buy

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