PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Amazon Proves Frictionless Payments Is the Future

By Don Apgar
August 20, 2021
in Analysts Coverage, Merchant
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Amazon

Amazon continues to dominate the headlines with the opening of their retail stores that have no cash registers….yes, the frictionless payments tech are cool, but the real news is how they have transformed the customer experience.  As busy shoppers with tight schedules, we allow ourselves a certain amount of time to visit a store and make a purchase. While most of that time is spent looking at products and making buying decisions, we always have to reserve a portion of our allotted time to queue in the checkout line. Eliminating the checkout process means that Amazon has essentially enabled us as customers to spend 100% of our time in the store shopping for products. 

“Retailers are looking for ways to improve and differentiate the customer shopping experience, decrease shrinkage and out-of-stock losses and drive incremental purchases,” said Azita Martin, General Manager for AI in Retail and CPG at NVIDIA.

quote pulled from Retail Dive

This crystallizes everything that is driving the hyper-growth of fintech today: eliminate the payment process as a separate workflow, and allow payments to occur within the workflows that created them. This is creating the Paradox of Payments: at the same time that frictionless payments technology is coming to the forefront, it’s also fading into the background. Consumers are becoming more aware of payment options, and at the same time relegating their payment choices to wallets and stored credentials.

This is the latest extension of what Amazon has done with online shopping, what Uber has done for ride-sharing, and what Door Dash and others have done for food delivery. Stored payment credentials allow the payment to happen in the background while the consumer focuses on the task at hand: ordering food, calling a ride, making a retail purchase.

Overview provided by Don Apgar, Director, Merchant Services Advisory Practice at Mercator Advisory Group

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Amazon GoConsumer BehaviorContactlessMerchant

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    mortgage

    The Rich Benefits of In-House Payment Systems

    July 9, 2025
    digital cards

    Beyond Plastic: Why Digital Cards Are the Future

    July 8, 2025
    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    July 7, 2025
    Rewire Acquires Imagen, Looking at Prepaid Cards for Migrant Workers

    Smells Like Team Spirit: What Makes Cobranded Credit Cards Work

    July 3, 2025
    uk banking outages

    New Continuous Strategies for Battling Account Takeovers

    July 2, 2025
    Fraud Monitoring

    What to Expect When Nacha’s Fraud Monitoring Rules Take Effect

    July 1, 2025
    payments

    Don’t Just React to What’s Next in Payments—Anticipate It

    June 30, 2025
    consumer debit

    As Payment Types Proliferate, Debit Cards Still Go Strong

    June 26, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result