It’s no secret that Amazon is trying to take on PayPal, but all it takes is one look at how Pay with Amazon’s user numbers compare to PayPal’s to see that the company’s efforts aren’t fairing all that well. That’s why Amazon is starting to step up its game with new support and tools that it hopes will encourage more e-commerce services companies to adopt Amazon Payments. However, many companies are understandably hesitant to partner with their largest competitor, which is why they seem to favor non-competitors like PayPal and Visa, but Amazon is hoping to change their minds.
Amazon has stepped up its efforts in the online payments space by expanding the reach of its product as it looks to take on PayPal, the company announced at the Money 2020 fintech event in Copenhagen on Monday. The U.S. e-commerce giant relaunched its payments business in 2013. It allows Amazon customers to pay for anything with their Amazon account on other websites. Merchants can use Amazon’s solution to help their business. Amazon is now extending the offering to merchant partners – third-party businesses hosting a shop on an e-commerce website. The idea is to help these businesses have a payment solution that can be integrated with their online store. “The Amazon Payments Partner Program provides Partners with the tools and resources needed to extend the trust and convenience of the Amazon experience to their merchant customers,” Patrick Gauthier, vice president of Amazon Payments, said in a press release on Monday. “We are working together across geographies and industries to help merchants grow and create experiences that delight customers throughout the shopping journey.” Amazon Payments is a direct competitor to PayPal and credit card companies like Visa which has its own online payment solution.