The new payment service will help streamline how Amazon customers make their purchases from non-Amazon sites by allowing them to use their Amazon account information to complete the transaction. This eliminates the need for users to register and enter their personal information every time they make a purchase with a different online retailer.
“In the States, some retailers have seen as much as three times growth on new accounts since introducing Login and Pay,” said Annemarie Jones, director of external payments, Europe, for Amazon to WWD. According to the online giant, from the online retailers who used Login and Pay a number reported 60 percent of their new customers using Amazon to complete their purchases.
The streamlined payment tool is said to not only simplify online purchases but also to help reduce the rate of shopping cart abandonment by cutting down on the number of steps in completing an online transaction. “It’s specifically in the fashion industry that the cart abandonment rate is high. If you compare it to food and drinks, for example, it is almost 20 percent higher,” notes Jones.
“We don't see it as only a payment solution. It [provides] more than just the checkout by having the login function and the payment solution in one product,”
Current participating retailers in the UK including AllSaints, Secretsales.com, Moss Bros., Overclockers UK, FulhamBrassOnline and Paddock Spares. Amazon aims to roll out Login and Pay to other European countries over the next few weeks.