Dive Brief:
- E-commerce giant Amazon said it is expanding its buy now, pay later offering beyond its website and app, by making it available through the Amazon Pay tool on other retailers’ sites, according to an email sent to sister publication Payments Dive. A spokesperson didn’t immediately respond to a question on when that change occurred.
- “Amazon Pay merchants now have yet another way to seamlessly reach new customers, offering them more choice and convenience in how they pay,” Amazon Pay Director Omar Soudodi said in the email.
- Customers can use Amazon Pay’s equal monthly payments option for online checkout purchases of $50 or more and split payments over six or 12 months with 0% interest. This BNPL option is only available to customers using Amazon’s Visa credit cards.
Dive Insight:
The equal monthly payments offering is now available at tens of thousands of other online stores, including Lenovo, Tennis Express and Authentic Watches, according to the email. The company first began offering BNPL financing in 2018, according to a spokesperson.
Millions of customers have used the BNPL option when it was available only on Amazon.com, according to the company. The new feature doesn’t require any change to e-commerce sites currently using the Amazon Pay checkout button.
The Seattle-based online retailer has a suite of existing payment plan options. In 2021, it allowed BNPL company Affirm as a checkout option on the Amazon website.
Coming soon to more physical stores will be Amazon’s palm recognition and payment system. Last month, the company announced plans to roll out its Amazon One biometric service to every one of its Whole Foods grocery stores.
