Amazon reportedly offering discounts to retailers that adopt its payment service
It seems Amazon is willing to sacrifice some profits to grow its new payments service.
The online giant is offering to pass along the discounts it gets on credit-card fees to other retailers if they use its online payments service, Amazon Pay, according to Bloomberg.
Amazon Pay lets online shoppers log into their Amazon accounts from other websites, and complete the transaction using credit cards and delivery addresses already stored rather than having to enter them again. The system enables Amazon to draw additional revenue from e-commerce sales on other sites, according to the report.
According to the report, the online retailer has offered the discounts to a number of smaller sellers with higher credit card fees than Amazon. The company is able to negotiate a lower fee because of its massive user base and sales volume.
To read more, click here.
The online giant is offering to pass along the discounts it gets on credit-card fees to other retailers if they use its online payments service, Amazon Pay, according to Bloomberg.
Amazon Pay lets online shoppers log into their Amazon accounts from other websites, and complete the transaction using credit cards and delivery addresses already stored rather than having to enter them again. The system enables Amazon to draw additional revenue from e-commerce sales on other sites, according to the report.
According to the report, the online retailer has offered the discounts to a number of smaller sellers with higher credit card fees than Amazon. The company is able to negotiate a lower fee because of its massive user base and sales volume.
To read more, click here.