Amazon Pay is a quick and easy way to buy products and services. There are no transaction, membership or currency conversion fees.
Small businesses need to be careful. Customers can purchase items from your ecommerce storefronts and / or website using data stored in their Amazon account. They can buy with Amazon Pay from your store.
Even independent store owners can log into Amazon to allow shoppers to use stored credit card information.
What is Amazon Pay?
Amazon Pay is a service that customers can use. It works through an Amazon Pay button in online stores. Or through Alexa and their payment methods in their Amazon.com accounts.
This service provides small businesses with access to hundreds of millions of Amazon customers.
How does Amazon Pay work?
The goal is to streamline the buying journey. This is how it works.
Integration for small businesses is easy. They just need to add the Connect with Amazon button or Amazon Pay button to a page on their website.
They also need an Amazon seller account.
- Log into your Amazon account.
- Make a purchase or donate.
- Select a payment method such as a credit card.
Consumers take note. Amazon Pay does not add transaction fees abroad. However, your card issuer might.
Does Amazon Pay cost money?
There is a fee for US-based ecommerce businesses. As,
- 2.9% on mobile and web transactions. Plus 30 cents per transaction.
- 4% plus 30 cents per transaction for Alexa voice payments.
Some other fees for charities and some cross-border payments depending on the payment method used.
Other fees include those for a service like the Amazon Currency Converter. These cover the costs of currency conversion.
Benefits of letting buyers checkout with Amazon Pay
Small businesses are interested in Amazon’s active customers. Here are some benefits of using Amazon Pay for Business.
Proven to increase conversion
This service is reliable and easy for customers with an Amazon account. And that’s hundreds of millions of potential customers.
The average conversion rate is just under 10%.
Offers multiple payment options for customers
Convenience and flexibility make Amazon Pay special. Customers can use a variety of debit, credit, and gift cards, which are some of the ways to pay online in addition to PayPal.
Allows you to receive international purchase payments
Amazon Pay supports currencies and international customers.
Offers multichannel compatibility
This service is compatible with other platforms. Like Wix, BigCommerce, and Shopify.
Provides convenience for customers
There is good customer support, including live chat, email, and phone.
Offers instant refunds for customers
This platform processes payments on a daily basis. here are others information on this medium.
Cons of letting buyers checkout with Amazon Pay
Amazon Pay is good for small businesses. And bad. Here are a few reasons why you might want to think twice before signing up.
Customers need an Amazon account to make a payment
Customers need an Amazon account to buy from your store. They need to provide a password, email address, or cell phone number to get started. Not everyone is comfortable with it.
May increase the risk of seller account closure
An Amazon account for sellers can be closed or suspended. Here is a list of violations that can cause problems with your account.
How to set up Amazon Pay on your seller account
Creating a seller account is easy. But you have to follow these steps.
- Click on it connect.
- Go to the pricing link to choose the right account.
- Now enter your email and select “Create New Amazon Account”.
Click on the Next button. You will need to verify and submit more information such as your business type.
1. Complete the Amazon Pay registration form
You must sign up for Amazon Pay even if you have another Amazon seller account. You will be asked questions. Amazon will verify your identity, bank account information, and business data.
2. Configure your payment method with valid details
Amazon pay accepts payments by debit cards, Visa and MasterCards and net bank accounts. You can also pay using your Amazon Pay balance.
Getting payment means you must have a positive seller account balance and a valid bank account. Make sure you double check all of your information to avoid problems.
3. Sell your products with Amazon Pay
Seller Central is a portal which has specific tools. They are great for Amazon Pay merchants looking to manage their accounts.
4. Capture payments for your orders
As the name suggests, this function captures funds. Merchants must use the capture operation. The process involves authorization and an expiration time stamp.
5. Get paid!
You can also get money from Amazon Pay. Go to a third-party website. Use your Amazon Pay UPI ID to get started.
Is Amazon Pay good?
Overall, Amazon Pay reviews are excellent. You can download an app for your iOS or Android mobile. There are no hidden costs. Your customers are protected by the Amazon guarantee from A to Z.
Is it safe to use Amazon Pay?
Yes. For buyers, bank account numbers, debit card and credit card information are not shared.
Is Amazon Pay like Paypal?
There is a big difference between the two. Amazon Pay is done online. This means that customers are not redirected to another site to complete their payment. Amazon Pay also integrates with over 24 e-commerce providers.
What payment methods can be used with Amazon Pay?
Amazon Pay customers can use different payment methods. Debit cards and credit cards are two. Concretely, the payment can come from American Express, Discover and MasterCard as well as Visa, JCB and Diners Club.
Some merchants accept the Amazon.com store card.
Where is Amazon Pay available?
This tool is available in the United States, France and India, United Kingdom, Spain, Germany and Japan. Use Amazon Pay in any of these countries.
Are there any transactions that Amazon Pay does not support?
Some types of transactions are not supported. As:
- Rupay credit cards from some banks.
- Transactions for which incorrect credit or debit card information is added.
Here is a list of some of the others the reasons your transaction could be declined.