Amazon PayPhrase; Valuable for Consumers and Merchants
Amazon Payments (a subsidiary of Amazon.com) rolled out a whopper of a service for consumers (and Internet retailers) last night dubbed PayPhrase.
Users are able to bypass a typical ecommerce checkout line and expedite the order process by replacing tasks such as entering usernames, passwords, credit card information, and shipping address when they enter in a a simple phrase (a PayPhrase) and a four digit pin. Up to 20 PayPhrases can be created by users and the management of those terms looks rather simple.
“We think customers will enjoy the simplicity that Amazon PayPhrase offers, and we hope they’ll have some fun choosing their own personal phrases,” said Matt Williams, General Manager, Amazon PayPhrase.
It's really quite an innovative solution and it's already in use at Amazon and on sites such as DKNY, Patagonia.com and BUy.com. Merchants interested in offering the functionality will need to be using Amazon Payments.
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