Launched in 2007, Amazon Pay, formerly known as Amazon Payments, is the online payments processing service. It is owned by the Seattle, Washington-based ecommerce and cloud computing company, Amazon, which was founded in 1995 and is the largest internet retailer in the world. In 2007, Amazon Pay expanded outside the United States and became available in the United Kingdom, France, Germany, Italy, Japan, Spain, and India.
It offers on-site, mobile, and tablet-friendly checkouts, automated recurring billing, “buy now” buttons, and mobile and tablet-friendly. Amazon’s payment solution allows merchants to easily use its checkout experience and add it to their websites. At no additional cost, Amazon offers merchants’ customers protection with it’s A-to-Z guarantee. Amazon Pay accepts a wide range of credit and debit cards, including Visa, MasterCard, American Express, EuroCard, Maestro, and Solo, and also accepts payment in all major currencies.
Also, Amazon Pay offers simple integration with ecommerce platforms, such as Shopify, BigCommerce, Magento, OpenCart, and PrestaShop, and it offers fraud detection and prevention technology that helps reduce bad debt.
Other benefits to merchants are that their customers are validated and verified customers with a familiar and trusted login and businesses get confirmation of customers and verified emails when they check in.