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January 23, 2023

On the web

Stripe Signs Deal to Process More of Amazon’s Payments

The Irish Times

Irish-founded payments technology company Stripe has signed an expanded deal with Amazon that will see the fintech process more of the online retailer’s payments. The new agreement will see Stripe become a strategic payments partner for Amazon in the US, Europe and Canada, processing payments for Prime, Audible, Kindle, Amazon Pay, Buy With Prime and other Amazon services. That accounts for a significant part of Amazon’s total payments volume.

January 10, 2023

On the web

Amazon to Widely Launch 'Buy with Prime', Says Offering Improved Merchant Sales

TechCrunch

"Amazon.com Inc will widely roll out a feature by end-January that allows online merchants outside its platform to use the e-commerce giant's payment and delivery services, as it takes on rising competition from Canada's Shopify Inc. 'Buy With Prime', which was launched as an invite-only offering in April, will be widely available to U.S.-based merchants by Jan. 31, the company said. It added that the product has increased shopper conversion rate by an average of 25%, meaning that many more people placed an order when 'Buy with Prime' was available versus when it was not."

December 8, 2022

On the web

How Amazon’s Cash Advance Program is Part of a New Wave of Financing

Modern Retail

“Amazon is expanding a new cash advance service for sellers next year, part of a growing crop of short-term financial services catering to e-commerce businesses amid a drop in venture spending. Starting in early 2023, hundreds of thousands Amazon sellers can receive between $500 to $10 million to help cover short-term costs, like inventory. The service, launched in partnership with Parafin and rolled out in a pilot this fall, doesn’t require minimum payments. Instead, the seller makes biweekly payments of 1% to 15% of their sales that period, plus a fixed fee.”

November 30, 2022

On the wires

Inter&Co Joins Amazon’s Payment Service Provider Program

PR Newswire

“Inter&Co, a leading Brazilian Super App offering a complete range of services in banking, investments, credit, insurance, shopping and remittance-related services, announced that it has joined Amazon’s Payment Service Provider (PSP) Program. The program requires any seller who uses PSP for revenue collecting to work with an Amazon-approved provider. Inter’s Brazilian clients – who are sellers with Amazon US -will now be able to receive and send payments directly to their Inter accounts. Amazon launched the program in March 2021 as part of its ongoing efforts to be the most dependable e-commerce marketplace for customers and retailers around the world. The program aims to enhance the ability to detect, prevent, and take action against potential bad actors while protecting customers from fraud and abuse. As of today, the program currently has 28 providers registered by Amazon worldwide, including Inter.”

November 14, 2022

On the web

Amazon Rolls Out Contactless Whole Foods Payment in Dallas (Palm Based)

Chain Store Age

“Amazon is beginning to offer its Amazon One palm payment shopping experience at more Whole Foods Market stores. On Tuesday, Nov. 8, two Whole Foods Market locations in the Irving and Highland Village suburbs of Dallas became the first Whole Foods Market stores in the Dallas area to offer the Amazon One palm-based payment system that allows customers the option to use their palm to pay for purchases. In the coming weeks, all 16 Whole Foods Market locations in the larger Dallas-Fort Worth area will offer the Amazon One palm payment option to its customers. This includes Whole Foods Market stores at Richardson, Dallas, Fort Worth, Plano, Bellingham, Colleyville, University Place, Arlington, Highland Park and Fairview. More than 65 Whole Foods Market stores across California recently rolled out Amazon One following previous launches in Seattle, Austin, and select stores in New York and Los Angeles.”

November 9, 2022

On the web

Amazon Pay Statistics 2022 – Market Share and Web Usage

Enterprise Apps Today

“Amazon being the world’s largest e-commerce website with millions of varied shopping articles has enabled Amazon Pay options for online payment platforms. Technology is stepping into advanced features, not long ago when Amazon was an online shopping site now, we can use it for paying other bills also. What is more exciting is that Alexa and amazon pay work very well together. You can simply ask Alexa to pay the bill and she will do it without you touching the device. This Amazon Pay statistics will give an insight into the features of Amazon Pay, its pros and cons, general statistics, and a comparison between Amazon pay and google pay.”

November 1, 2022

On the wires

Amazon Launches New Merchant Cash Advance Program Provided by Parafin, Doubling Down on Its Support for Small- and Medium-Sized Businesses

Businesswire

“Today, Amazon launched a new financing solution, a merchant cash advance, provided by Parafin–a U.S.-based provider of growth capital for sellers. This secure financing option ties payment on the cash advance to a portion of sellers’ future sales for a fixed capital fee and provides eligible Amazon sellers with easy and quick access to capital when they need it, paired with flexible payment plans. With this program, sellers can access capital in a matter of days with transparent and capped rates, no fixed term, no personal guarantee, no credit checks or excessive paperwork, and no late fees. The program rolls out to some U.S.-based businesses today, and it will be available to hundreds of thousands of eligible sellers by early 2023. This new merchant cash advance, through which eligible businesses can access capital from $500 up to $10 million, provides sellers with financing opportunities to expand their businesses, protect margins, develop new products, grow inventory, and efficiently manage cashflow. A flexible payment schedule is determined by a fixed percentage of the seller’s Gross Merchandise Sales (GMS) until the funding is paid off, with no minimum payments, no interest (only a fixed capital fee), and no collateral required—unlike a traditional loan. Payments are only required during periods that a seller has made sales, and the fixed payment rate ultimately protects them during periods of slow or no sales. This financing option will provide sellers that have been selling on Amazon.com for at least three months with an additional solution for their financial needs alongside the existing financing solutions portfolio of term loans, interest only loans, and lines of credit provided by Amazon and its third-party financing partners.”

October 25, 2022

On the web

Amazon Will Now Let Users Pay With Venmo at Checkout

CNBC

“Amazon announced Tuesday it’s adding Venmo as a payment option at checkout. The feature will begin rolling out in the Amazon app and on amazon.com starting Tuesday, before launching for U.S. users by Black Friday on Nov. 25, Amazon said.   Venmo, owned by PayPal, is a popular payment service that allows users to send money to each other. It has increasingly expanded beyond its peer-to-peer functionality, with more online retailers adding Venmo as a form of payment, such as Shopify and Lululemon. Users add their Venmo account as a form of payment on their Amazon account, then select Venmo as their payment option during checkout. The partnership will give Amazon shoppers more options to pay for their order. The company currently accepts credit and debit cards, store cards, HSA and FSA accounts, as well as EBT cards.”

September 23, 2022

On the web

Amazon Launching Affirm’s ‘Buy Now, Pay Later’ Option in Canada

Yahoo Finance

“Amazon customers in Canada will soon be able to pay for their purchases on the website in smaller, monthly instalments as the e-commerce giant expands its partnership with payments company Affirm north of the border. Affirm said on Thursday in a press release that purchases on Amazon.ca of at least $50 will be eligible for the pay-over-time option within the next month if customers select the company as their payment method. Eligibility will be based on a quick approval process and details about the monthly payments, including the repayment timeline, will be displayed prior to checkout, according to Affirm.”

August 10, 2022

On the web

Amazon Expands Whole Foods Contactless Payment Across California

Chain Store Age

“Amazon is making its Amazon One palm payment shopping experience available at a new set of Whole Foods Market stores. More than 65 Whole Foods Market stores across California will soon offer the Amazon One palm-based payment system that allows customers the option to use their palm to pay for purchases. This is the first broad roll out of Amazon One at Whole Foods Market stores following previous launches in Seattle, Austin, and select stores in New York and Los Angeles.”

July 26, 2022

On the web

Amazon Launches Seller Wallet for Cashing Out Sales Proceeds

Ecommerce Bytes

“Amazon launched a new wallet for global sellers to manage payouts more easily. It will roll out to sellers over the next few months. In a post on the About Amazon blog, Max Bardon, Vice President of Amazon Worldwide Payments, shared that the initial launch is available to a select number of small businesses. “We plan to collect feedback from sellers and continue to refine this tool over time.” Account maintenance is free, but when sellers convert and transfer funds, volume-based currency conversion and international transfer fees will apply. It plans to add capabilities including third-party payments and foreign exchange rate tools in the future.”

July 18, 2022

On the web

Amazon Debuts Cashierless Grocery Store Format in New York

Chain Store Age

“Amazon is opening two more Amazon Fresh high-tech grocery stores, including the first location in New York. About a week after introducing a new Amazon Fresh store in Arlington, Va. (the site where Amazon is currently constructing its “HQ2” second headquarters complex), the retailer is opening locations in Oceanside, N.Y. and Norridge, Ill. Amazon Fresh stores are designed from the ground up to offer a seamless shopping experience, with extra features for members of the Amazon Prime paid loyalty program.”

July 8, 2022

On the web

Amazon Offers a 0% Interest Buy Now, Pay Later Deal for Prime Day Shoppers Through its Partnership with Affirm

ZDNet

“Amazon announced Thursday that Prime Day shoppers can take advantage of a special Buy Now, Pay Later (BNPL) offer during its two-day sale. Approved Prime members will have the ability to choose from three BNPL plans for purchases of $50 or more. Customers can choose to finance their purchases over three, six, or 12 equal monthly payments at 0% interest. Amazon partnered with Affirm last year, with Affirm becoming the only BNPL provider for Amazon. The new deal follows the current Affirm promotional 0% APR offer, which began June 28, 2022, and ends July 11, a day before Prime Day begins. Normally the BNPL plans provided through Affirm carry an APR of 10% to 30%. Which, if you get 20% or 30% when you choose to finance, is a bit high. However, having a 0% APR can be a great way to avoid interest charges. Just be sure you’re paying your payments on time, as missing a payment will negatively impact your credit scores.”

May 31, 2022

On the web

Amazon Opens Its First Clothing Store in Los Angeles

95.5 WSB

“Amazon has expanded in many ways throughout the years, and now the e-commerce giant has launched a brick-and-mortar clothing store. The Amazon Style fashion retail space has opened at The Americana at Brand shopping mall in Los Angeles. The new concept offers a selection of apparel, shoes and accessories. The items featured in the store also have QR codes providing information from sizing to customer ratings, the company said.”

May 9, 2022

On the web

Google Cloud Assembles Web3 Team to Leverage Emerging Metaverse

“Google Cloud Platform is putting together a Web3 specialist team to take advantage of cryptocurrency and blockchain technology. The cloud computing services suite says its new Web3 team will focus on building services for developers running blockchain applications. In addition, the team will also provide blockchain services to enterprises and customers looking to leverage the technology. The new Google Cloud Web3 division, to be helmed by former Citigroup executive James Tromans, already has a descriptive agenda set out. This reportedly includes better management of blockchain nodes as well as software for exploring blockchain data in third-party applications. Back in January, Google already hinted at this specialist division with pre-existing and established partnerships with blockchain projects. The company believes that the emerging metaverse and all its trappings offer so many untapped opportunities to exploit.”

April 26, 2022

On the web

Amazon Go: Inside the New Cashierless Store Moving in to the Suburbs

USA TODAY

“Amazon Go, the tech giant’s cashierless store concept, is ready for its move to the suburbs.  The company is opening a new Go store in Mill Creek, Wash., on Tuesday morning, which it says will target customers living in suburban areas.  Like its other Go stores, customers won’t need to visit a cash register when they’re ready to check out. They grab what they need and leave.”

March 31, 2022

On the web

Amazon Renews Prime Credit Card Tie-up With JPMorgan Chase After Flirting With American Express

CNBC

Amazon has chosen to renew a deal allowing JPMorgan Chase to issue the tech giant’s flagship rewards credit card, ending months of heated negotiations, CNBC has learned. The Amazon Prime Rewards card was one of the industry’s most highly coveted co-brand deals, a rare prize because of the massive scope of Amazon’s loyalty program, with its estimated 150 million U.S. members, according to people with knowledge of the talks.”

March 9, 2022

On the web

March 3, 2022

On the web

Amazon to Shut Its Bookstores and Other Shops As Its Grocery Chain Expands

Reuters

“Amazon.com Inc said on Wednesday it plans to close all 68 of its brick-and-mortar bookstores, pop-ups and shops carrying toys and home goods in the United States and United Kingdom, ending some of its longest-running retail experiments. The news, which Reuters was first to report, marks a turning point for a company that began as an online bookseller and helped drive established rivals such as Borders to bankruptcy. Amazon said it would focus more on its grocery markets and a department store concept going forward.”

November 19, 2021

On the web

November 18, 2021

On the web

Amazon May Drop Visa As Partner on U.S. Credit Card

Reuters

“Amazon.com Inc (AMZN.O) is considering dropping Visa (V.N) as partner on its U.S. co-branded credit card after earlier confirming it would stop accepting Visa credit cards in the United Kingdom as a dispute over payments intensified. The e-commerce giant is in talks with several payment networks including Mastercard Inc (MA.N) , American Express Co (AXP.N) and Visa as part of what it called its standard process for reviewing its co-branded credit card agreement, a spokesperson said.”

September 9, 2021

On the web

Amazon Developing New Point-of-sale System to Attract Small Businesses – Insider

Reuters

“Amazon.com Inc (AMZN.O) is working on a new type of point-of-sale system that can be sold to third-party sellers, Insider reported on Wednesday. The new system can handle both online and offline transactions and can also link to other services including Prime and Flex, the report added, citing an internal document… The move will allow Amazon to compete with Canada’s Shopify (SHOP.TO) and U.S. payments giant PayPal (PYPL.O) , which already offer POS systems for payments for small businesses, that have moved online during the pandemic to boost sales. Project Santos, created by an internal Amazon team to compete with Shopify, is leading the project, the report said.”

July 22, 2021

On the web

Amazon Ends Use of Arbitration for Customer Disputes

The New York Times

“In a brief email to customers, Amazon said anyone using its products would now have to pursue disputes with the company in federal court, rather than go through the private and secretive arbitration process, which critics say puts consumers at a huge disadvantage . “This is a big deal,” said Florencia Marotta-Wurgler, a professor at New York University Law School who focuses on consumer law. “For so long, the tide had been going the other way, with companies adding arbitration clauses to their contracts.””

July 2, 2021

On the web

Amazon Pay Later Hits 2 Million Sign-Ups Mark in India

NDTV Gadgets 360

“Amazon Pay Later has reached the milestone of two million customers who have signed up for the service in a little over a year since its launch, Amazon has announced. The credit service specifically for Amazon India customers was launched in April last year to let them make purchases of essential and high-value items by either paying the price next month or in monthly instalments. Amazon’s offering was designed to take on the likes of LazyPay and Flipkart Pay Later. It was introduced as a rebranding of the Amazon Pay EMI service that debuted in 2018.”

June 24, 2021

On the web

This Year’s Prime Day Broke Sales Records

CNN

“Amazon ( AMZN ) said that Prime Day, held this past Monday and Tuesday, was the biggest two-day sales period for third-party sellers in the company’s history. Amazon said sales from third-party merchants outpaced its own sales.Amazon also said Prime members purchased more than 250 million items worldwide on Prime Day. Robotic vacuums, coffee makers and Crest Whitestrips were some of the top-selling products.”

March 4, 2021

On the web

February 17, 2021

On the web

February 11, 2021

On the web

Amazon Preparing to Launch a ‘Digital Currency’ Project in Mexico – CoinDesk

CoinDesk

“Amazon’s grip on the internet economy appears to be coming for currency next, with the e-commerce giant preparing to launch a “digital currency” project in Mexico. The yet-to-be-announced project, which Amazon sketched out across a series of recent job posts , appears to be an effort to keep lucrative Prime customers eternally plugged into Amazon’s platform.”

November 10, 2020

On the web

November 9, 2020

On the web

Amazon rolls out rewards program that makes it easier for drivers to get work

CNBC

Amazon is launching a rewards program for its legions of Flex delivery drivers that gives them a leg up when it comes to the app’s competitive shift selection process. The company quietly added a section to the Flex website and an app on Apple’s App Store that advertise the program, called Amazon Flex Rewards. The rewards program offers drivers a number of perks, including access to a debit card and the ability to reserve customized delivery shifts.”