Amazon has announced that its Pay with Amazon transaction volume nearly doubled in 2016 with over 33 million customers using Amazon Payments to make a purchase
In figures released last week, global e-commerce giant Amazon has revealed that Pay with Amazon transaction volume nearly doubled in 2016. The company also shared that 33 million customers used Amazon Payments to make a purchase, 10 million more customers than it had in April 2015.
Amazon Payments enable customers around the world to pay on merchant websites using the information already stored in their Amazon account. In 2016, Pay with Amazon expanded its services into France, Italy and Spain and added new verticals like government payments, travel, digital goods, insurance and entertainment, which helped to drive growth according to the company.
Patrick Gauthier, Vice President of Amazon Payments, stated, “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,” he continued.
As today’s consumers expect a greater level of convenience, Amazon’s movement into the payments space is a natural progression for the company. Pay with Amazon helps merchants meet these new customer expectations and provides a way for the company to profit from its vast user base that already have their financial and personal details saved on the company’s site.
After re-launching its payments business in 2013, Amazon has stepped up its efforts in the online payments space. The company reports that customers from more than 170 countries used Amazon payments to make a purchase in 2016 with 32 percent of transactions made on a mobile device. The company also noted that over 50 percent of Pay with Amazon customers are Amazon Prime Members.