Amazon Pay doubles transaction volume
Thirty-three million customers used Amazon Pay to make a purchase in 2016, nearly doubling payment volume from the previous year as the service continues its international expansion.
Data released by Amazon this week on the payments platform revealed that active merchants supporting Amazon Pay grew 120 per cent year-on-year as the service added payment support for government, travel, digital goods, insurance and charities. The platform allows customers to make payments using their Amazon account details.
The service now operates in more than 170 countries, after moving into France, Italy and Spain last year, with more than 50 per cent of customers globally maintaining an Amazon Prime membership.
“As we have introduced new experiences with merchants, we have seen a significant increase in the number of customers using the information from their Amazon account to make purchases on merchant websites,” said Patrick Gauthier, vice president, Amazon Payments.
“Amazon Payments connects merchants with customers that are accustomed to making purchases online,” said Gauthier. “By connecting with these customers, merchants are driving higher conversion, increasing sales and ultimately growing their business.”
The average transaction size for Amazon Pay purchases was US$80 in 2016, with the largest single transaction coming in at US$40,000. The largest day for transaction volume was 28 November, as customers cashed in on Cyber Monday offers.
Following the addition of charity and non-profit payments, the service was used to collect donations for the victims of earthquakes in Japan in April and Italy in August.
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