As a business, it’s important to give your customers the choice to make their payment on a platform they’re familiar with. Amazon Pay offers a seamless experience by leveraging the trusted brands of Amazon.com and by providing convenience through integration with millions of existing Amazon accounts, which customers can use to pay for your products.
Amazon Pay is available in multiple countries, so you can rely on it to serve customers not just in the United States, but also in Europe, Japan and other locations around the world. This means greater flexibility for you when selling internationally, as well as more confidence when selling locally since you know that those who trust Amazon won’t have any concerns over using their account information. In this case, your Amazon eBay USA account would not be compromised due to Amazon’s set of rules for making purchases.
Let’s go over 3 ways Amazon pay helps large businesses to protect sensitive information about their customers.
1. Enhance sales and increase conversion rates
With an Amazon Pay button incorporated directly into your website, you are well prepared to provide your customers with a convenient way to complete payments, thus reducing the risk of failed transactions and increasing consumer trust towards the brand. And since you’re already delivering your customers a quicker, simpler payment experience, it comes as no surprise that up to 83 percent of all consumers using Amazon Pay are likely to come back more frequently since they can proceed with payments via their own Amazon account details.
When you give shoppers the option to use their existing Amazon accounts for making purchases, you reduce the friction and hassle that comes with creating another new account or having to remember a password. This means less time spent dealing with failed logins and more time focusing on making purchases. Studies show that nearly two-thirds of online shoppers prefer using stored payment information rather than entering it manually. In fact, 86 percent of users who choose to pay via saved credentials say they do so to save time and avoid filling out forms multiple times.
In addition to improving conversion rates by eliminating lengthy registration processes or field entry errors that can cause cart abandonment during the checkout process, using Amazon Pay also brings peace of mind by providing a convenient way for customers to ensure their information is secure when they complete a transaction. One study found that about 52 percent of shoppers have abandoned a purchase because they felt uncomfortable about sharing personal data with retailers. This number is only expected to rise as security concerns continue growing in importance for consumers worldwide.
2. Provide a convenient payment method to your customers
You can come up with great app ideas that require a checkout process for purchases. When you integrate Amazon Pay into your website, mobile app, or in-store system, customers will be able to pay using the information they’ve already stored in their Amazon accounts. This means they won’t have to provide payment and shipping information when they’re checking out from your website. Customers can also safely use this payment method in a store by scanning a QR code during checkout with their mobile device.
Amazon Pay is available for businesses of all sizes and industries. Regardless of whether you have an established brand or are just starting out, you can benefit from using this platform as an alternative payment method for your customers.
3. Minimize fraudulent activities and risk
With Amazon Pay, you can benefit from the same fraud detection that helps to protect Amazon.com, making it easier for you to manage your risk and ensure customer satisfaction. The process is carried out by analyzing customer purchasing patterns and applying a risk scoring to each authorization request.
Amazon Pay also uses multi-factor authentication (MFA) to confirm a user’s identity. For example, when a buyer adds their payment method or logs in from an unrecognized device they may be sent an MFA code via SMS or automated emailing before being permitted to complete the transaction.
Many of today’s e-commerce platforms are already compatible with Amazon Payments, as adding Amazon Pay to your website is simple and seamless. It also doesn’t require any additional IT resources or setup processes on your end. Just follow a few steps and you’ll be well on your way toward accepting payments from millions of potential new customers. This can be particularly helpful if your business operates exclusively online, as having this option available could significantly increase sales, while decreasing transaction costs.