Originally published: Jan 7 2020
The way your customers purchase items online is evolving. They expect a simple, convenient, trusted buying experience on your site. Amazon Pay makes it easier for hundreds of millions of customers around the globe to quickly check out using the information already stored in their Amazon accounts.
Here are six reasons to integrate Amazon Pay now:
1. Activate the Amazon customer
Amazon Pay extends the trusted experience Amazon customers have come to enjoy, through thousands of websites around the world. Amazon Pay offers merchants an easier way to connect with hundreds of millions of active customers globally. The Amazon brand is a proven winner of customer trust1, and that trust halo extends to Amazon Pay.
Tower London has observed immediate results with Amazon Pay. Amazon Pay orders have grown 53% from April to July 2019 to constitute 30% of all orders through the Tower London website. This growth is testament to the trust customers place on Amazon Pay. Tower London plans to ride this trust to expand globally. It specifically points to Amazon Pay’s A-to-z Guarantee as a trust booster.
2. Offer a fast & easy checkout
Shoppers don’t want to create another site account. According to Baymard Institute, cart abandonment rates average 67.57%2, with 34% of customers citing forced account creation as a key reason for site abandonment. Amazon Pay enables customers to make purchases using the information stored in their Amazon account, avoiding account creation, re-entering credit card information, and typing their billing and shipping addresses. Reduce friction with a seamless payment process that can be completed in minimal clicks.
3. Minimise costs
With simple and transparent pricing, thanks to our new and competitive fees of 2.7% + £30p per transaction3, Amazon Pay can reduce costs for merchants. In fact, not only do merchants avoid setup costs and monthly fees, they can also take advantage of Amazon’s fraud detection and prevention technology and reduce the risk of bad debt. Meanwhile, customers feel more confident knowing their purchases are protected by Amazon A-to-z Guarantee at no additional cost. Rob Wood, Head of Online at The Entertainer, confirms that the fraud detection technology available to Amazon Pay’s merchants was one of the main reasons to go ahead with the integration: “One of the attractions of Amazon Pay is that the fraud screening and risk is taken care of for us”.
4. Lead the way in connected commerce
With the adoption of voice across all stages of the customer journey, Amazon Pay is helping businesses adapt to the expectations of today’s connected shoppers through Alexa – available on hundreds of millions of Alexa-enabled devices. By embracing voice commerce, today’s merchants can take convenience to the next level, exceeding customer’s expectations in an age where personalised, seamless experiences are what make the difference.
Amazon Pay’s new BuyerID functionality helps businesses assign a unique, persistent identifier for each Amazon Pay customer so that individual channel activities can be clearly connected and customers can seamlessly move from one channel to another.
5. Help improve sales
Amazon Pay enables merchants to boost revenue by converting valuable Amazon customers. Providing your customers with trusted, convenient experience, and one familiar login to identify themselves can help increase conversions & lower cart abandonments. For example, AllSaints experienced a 34% higher conversion rate, 15% higher order values, and a 70 second reduction in checkout time after implementing Amazon Pay.
6. Expand to new regions
Appeal to international shoppers by making it easier for them to purchase from your digital store with multi-currency and multi-language support. This functionality helps businesses in the UK reduce friction in the checkout process by maintaining the local currency experience across the shopping journey, helping their customers avoid currency conversion fees from their credit card issuer or bank. Amazon Pay retains the localised experience by sending order confirmation emails to customers in their local language. Amazon Pay accepts the total purchase cost in the customer’s local currency and converts it to the one registered with your account for settlement, so you don’t have to set up international bank accounts or foreign operations. Learn more about this feature and the range of currencies you can offer to your customers.
Learn more about the common questions about Amazon Pay and our new pricing model here.
1 For two years in a row, The Values Institute ranked Amazon as the top most-trusted brand in retail in 2018. Also, in brand rankings from BrandZ by Kantar Millward Brown and Best Global Brand 2019 by Interbrand, Amazon is rated as the top most-valuable brand.
2 Average online shopping cart abandonment rate worldwide from 2006 to 2019, Baymard Institute, Sept. 2019
3 If you're a large merchant, please contact us for information on enterprise pricing packages.
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