Amazon Pay Expands its European Presence
While Amazon is well-known throughout much of the world as a means to get just about anything and get it fairly quickly, its payment service, Amazon Pay, is somewhat less well-known.
That’s been changing in recent months, and recently, Amazon took its Amazon Pay service into several new markets. Now the service is available to users in Spain, France, and Italy, a measure that should prove welcome for a variety of reasons.
Amazon Pay has already shown to be impressive as a payment service, lowering the total amount of time required to make and pay for purchases by tying a payment mechanism directly to Amazon itself.
There’s a greatly reduced need for passwords and the like, and since it’s connected directly to Amazon, it doesn’t necessarily have the large amounts of cash contained therein that a bank account or debit card might have. Plus, that direct tie-in means users don’t have to add payment and shipping information, further streamlining the process.
Given that Amazon Pay has 33 million users worldwide so far, adding to Amazon Pay’s available territory will likely help pull in more users. It’s not that Amazon’s current system is so broken, but rather that this is a new and more convenient way to do something that was already being done.
Thus, Amazon will likely never get more than a percentage of its user base interested, but that’s not the problem you might think. Not only is Amazon making shopping with its own service more convenient, it’s also looking to get access to other markets.
Reports suggest Amazon Pay is actually building into markets like travel, insurance, and even government payments; we might well pay our taxes via Amazon Pay before too much longer.
There’s a value in this expansion capability, because even though the whole market won’t be interested, every little bit extra that Amazon can pick up is that much extra capability going forward. With a slice of all those payment markets coming in, Amazon can bolster its own operations that much further. Though this may not seem like much of a move, its true value is likely cumulative, and Amazon’s own ability to compete will only rise with it.