Originally posted 12/11/19

In September 2019, we published an article on the seven most important attributes for businesses when choosing a digital payment service, based on a global survey of more than 1,500 businesses[1]. Today we show you how Amazon Pay addresses those needs. The top attributes in order of importance are:

1. Supports transactions through multiple channels:

In a survey conducted by Amazon Pay, we found that consumers are ready to embrace a multi-channel shopping experience with 42% likely to be involved in one that spans multiple channels (i.e. e-commerce, m-commerce, physical stores, and voice) in three years.[2] Recognizing this trend, businesses are seeking digital payment services that allow consumers to interact with their brand through the channel of their choice. Amazon Pay enables consumers to use their Amazon login credentials and the payment information stored in their Amazon accounts to transact on off-Amazon stores through any channel. Working with Amazon’s Alexa, Amazon Pay is also enabling consumers to accomplish tasks in their shopping journey through the ‘voice’ channel.

In an increasingly connected world where our customers seek a seamless experience across channels and devices, we see it as a huge perk that we are able to innovate with Alexa through Amazon Pay. 

– Kate MacCabe, Director, Product Management, Rothy’s

2. Enables easy integration with your website/your website’s e-commerce platform:

Faced with competing business priorities and scarce information technology (IT) resources, businesses like to adopt a payment service easily and quickly. Amazon Pay has a solution to address this need irrespective of whether a business’ store is built on a commerce provider platform (e.g. Magento, Shopify, BigCommerce etc.) or has been custom built by its internal development team.

Amazon Pay works with a range of service providers including commerce providers (examples as above), payment service providers (e.g. Worldpay), agencies (e.g. oneRockwell), and professional developers. These service providers help businesses set up Amazon Pay quickly and easily, allowing them to focus on building their businesses rather than worrying about integrating with Amazon Pay. Amazon Pay’s documentation and videos from Amazon Pay University also help in the process. Amazon Pay’s support team is always on standby in case businesses need help with the integration. For custom integrations, Amazon Pay’s team of Solution Architects work closely with businesses to make the integration process as smooth as possible.

Amazon Pay’s partnership with Big Commerce is unbelievable. I saw the Amazon Pay logo on the Big Commerce panel. In a few clicks, I was able to place the button on my website and was able to start accepting payments through Amazon Pay almost instantaneously.

– Brandon Chatham, Founder and CEO, NatoMounts

3. Offers best-in-class fraud detection technology and reduces your risk of bad debt:

Every $1 of fraud costs e-commerce businesses $5 to identify, manage, and address.[3] Businesses of all sizes rely on digital payment service providers such as Amazon Pay to prevent fraud. To help reduce bad debt and lower costs, Amazon Pay offers fraud detection capabilities, chargeback controls, and risk management processes to businesses at no extra cost.

Additionally, consumers who transact using Amazon Pay tend to be more reliable than an average consumer, thus reducing the need to dedicate resources for enhanced transaction vetting.

With Amazon Pay, I have no concerns about chargebacks or fraud; I know the traffic is legitimate. I wish 100% of our transactions were through Amazon Pay. 

– Brandon Chatham, Founder and CEO, NatoMounts

4. Offers 24X7 support to you and to your customers:

Businesses seek support from digital payment service providers before, during, and after adoption of a payment service. They also want the payments brand to offer their customers an equally excellent service. Amazon Pay offers both self-serve and human support to businesses at every stage of their journey with Amazon Pay.

Amazon Pay welcomes businesses into its fold with an easy to read primer on everything they need to know about Amazon Pay. This helps businesses start their relationship with Amazon Pay on a positive note and sets them up for success. Amazon Pay also extends the same level of service it offers consumers on-Amazon to off-Amazon as well. This provides consumers the confidence that Amazon has their back whether they shop on or off-Amazon.

5. Offered by a recognized and trusted company:

In a survey conducted by Amazon Pay, consumers identified availability of well-known digital payment services as their #1 trust signal towards that website.[4] By adopting Amazon Pay, businesses associate themselves with one of the most trusted brands in the world – Amazon. Not only do business owners trust Amazon, they know their customers will as well. Amazon Pay extends Amazon’s A-to-z Guarantee to off-Amazon purchases ensuring consumers can claim a refund if a product is not of promised quality or has not been delivered in the promised time.

People don’t know NatoMounts. They click an advertisement on Facebook or Instagram and land on our website. They see the Amazon Pay logo and trust that their personal and payment information will be secure. That is the feeling that I get when I see Amazon Pay on a less familiar website. I know my customers will have the same feeling when they visit my website. 

– Brandon Chatham, Founder and CEO, NatoMounts

6. Improves purchase conversion rate:

Research from the Baymard Institute finds that 70% of online shoppers who add a product to their shopping cart never complete the purchase.[5] Two of the top three reasons are: the website requires the customer to create an account and the checkout process being too long/complicated. Businesses trust Amazon Pay to improve conversion because it enables consumers to use their familiar Amazon login to complete their checkout quickly. No account creation on a website and no need to painstakingly enter payment and personal information.

Our analytics indicate Amazon Pay has reduced our cart and checkout abandonment, especially on mobile. 

– Matthew Rehm, E-commerce Manager, VOLT Lighting

7. Attract customers who spend more than the average online shopper:

Growth is a top priority for businesses. They would like to attract consumers to their stores. Based on consumers’ trust in Amazon, Amazon Pay drives consumers to websites. Additionally, Amazon Pay enables businesses to leverage Amazon’s advertising capabilities through a program called ‘Curator’. This program identifies Amazon customers who fit the profile of a website’s customer and displays relevant online advertisements.

The Curator Program has been a great new acquisition channel that has helped us reduce our dependency on other channels. It allowed us to reach customer groups that we could not have reached using other channels. We were delighted to work with a highly capable and proactive team to manage our campaign under the Curator Program. 

– Tsuyoshi Inagaki, Business Development Manager, Kamikoto

At Amazon Pay, we are always striving to learn more about both consumers' and businesses' needs to improve our payment service. Please learn more about how we can help your business by visiting this link - https://pay.amazon.com/secure-checkout. To sign up and start offering Amazon Pay as a payment option for your customers follow this link - https://pay.amazon.com/us/signup.

 

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[1] Top attributes were defined as those whose importance score exceeded the average importance score of all the attributes. We ended up with seven attributes that crossed this threshold. Survey conducted by Amazon Pay in 2019 among 1529 businesses (that sell products and services to consumers (B2C) and/or other businesses (B2B)) in the United States, United Kingdom, and Germany. Results in this blog are from a prioritization exercise that tested 17 benefits. The context of the exercise was: “In this section, you will be shown a few screens that list attributes that might be important to you while choosing a digital payment service. On each screen, you will be asked to select the one attribute that is most important, and the one that is least important in choosing a digital payment service. Please select one attribute that is most important, and one that is least important in choosing a digital payment service.”

[2] Amazon Pay conducted a double blind online survey in April 2019 among 10,297 consumers in the United States (US, N=1898), United Kingdom (UK, N=1399), Germany (N=1437), France (N=951), Italy (N=953), Spain (N=951), Japan (N=1468), and India (N=1240). All respondents were third-party panelists (not limited to Amazon customers).

[3] LexisNexis Risk Solutions 2018 True Cost of Fraud℠ Study, July 2018.

[4] Amazon Pay conducted a double blind online survey in April 2019 among 10,297 consumers in the United States (US, N=1898), United Kingdom (UK, N=1399), Germany (N=1437), France (N=951), Italy (N=953), Spain (N=951), Japan (N=1468), and India (N=1240). All respondents were third-party panelists (not limited to Amazon customers).

[5] The cart abandonment rate is an average across 41 different abandonment studies - baymard.com/lists/cart-abandonment-rate.

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