PayPal Working Capital is a merchant cash advance linked directly to your PayPal account.
33 million people now use Amazon Payments off Amazon
That’s hardly surprising. Both firms are keen to get their share of international and online payments. What is perhaps more interesting right now is that Amazon are doing some serious payments volume off Amazon according to recent reports.
In 2016, Pay with Amazon payment volume roughly doubled. It expanded into France, Italy and Spain and new sectors including government payments, travel, digital goods, insurance and entertainment.
Now we’re looking at 33 million shoppers using Amazon Payments or Pay with Amazon. Some of the related numbers are very interesting. Pay by Amazon users are spread over 170 countries. Over 50% of Pay with Amazon customers are Prime Members. 32% of transactions using Pay with Amazon were made on a mobile device. The average Pay with Amazon purchase was $80 in 2016. The biggest was $40k.
Patrick Gauthier is VP at Amazon Payments and says: “As we have introduced new experiences with merchants, we have seen a significant increase in the number of customers using the information from their Amazon account to make purchases on merchant websites. Amazon Payments brings the simplicity and familiarity of Amazon’s buying experience to our merchant customers, making it easy for millions of Amazon customers around the world to pay using the information already stored in their Amazon account.
“Amazon Payments connects merchants with customers that are accustomed to making purchases online,” said Gauthier. “By connecting with these customers, merchants are driving higher conversion, increasing sales and ultimately growing their business.”
Don’t forget that you can enable payments with Amazon on your own website. And with adoption looking so strong, it could well be worth revisiting the offering if you’ve dismissed it in the past.
PayPal and Amazon might not be equal partners when it comes to payments expertise but it sounds like Amazon may yet come to challenge PayPal in due course.
It was a pain to set up I remember that. Hardly anyone uses it with us. Most still use the PayPal system. It is more expensive also.