Commerce

Amazon Launches Its Payments Partner Program; Plans for FinTech Acquisitions

MEDICI

Amazon announced the launch of the Amazon Payments Partner Program to help e-commerce platform providers and developers extend the trust and familiarity of Amazon Payments to their merchant customers. The Amazon Payments Partner Program offers unique tools and services to help partners grow their merchant business by offering easy integration with Amazon Payments.

The Amazon Payments Partner Program includes solution pre-integration and the best practices to help ensure that merchants receive the most effective solutions. Merchants will be eligible to receive exclusive benefits and services from the program such as knowledge-sharing and white glove integration services. The program is free to participate in and available by invitation in the United States, Germany, United Kingdom and Japan.

“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,” said Patrick Gauthier, Vice President of Amazon Payments, in the press release. “We are working together across geographies and industries to help merchants grow and create experiences that delight customers throughout the shopping journey.”

The Amazon Payments Partner Program includes Premier Partner, Certified Partner and Certified Developer levels, with distinct certified categories for e-commerce platform providers and developers. As members of the Amazon Payments Partner Program, partners are eligible to receive account management, planning support, technical resources and training, partner directory listing, and partner designation with exclusive logos. Certain partners may also be eligible for co-marketing activities.

"The convenience and trust that Amazon Payments provides customers already attracts lots of our merchants. We are honored to participate in the Amazon Payments Partner Program,” said Yuko Hoshino, President of Future Shop Co., Ltd. "Together, we will support the growth of our merchant business and contribute to the revitalization of the e-commerce industry in Japan by combining the capabilities of FutureShop2 with the convenience of Amazon Payments.”

Amazon plans to take it rivals such as PayPal and credit card companies which provide their own payment solution.

According to Amazon executive Patrick Gauthier, the company is also looking for FinTech acquisitions as the valuations of the companies are coming down. According to a recent report by PwC and Startupbootcamp, the innovations in the FinTech sector has reached maturity, resulting in reduced valuations.

In an interview with CNBC, Patrick said, "We created this business unit a year ago, now I'm starting to look at opportunities outside. After a number of years where FinTech has been a little bit ahead of itself in terms of valuations, things have come back to earth."

He also said that Amazon is looking out for companies with good teams, people who have a focus on customers, and the means through which Amazon will be able to extend the number of user cases and the number of places where it can roll out Pay with Amazon.

About Amazon:

Amazon.com opened on the World Wide Web in July 1995. The company is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, click here.

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

Apply to Become a Contributor