Amazon is partnering with major payment processor Worldpay to enable Worldpay merchants in the US to offer Amazon Pay:
for a trademark application for Amazon Pay in Canada, and it's invested heavily in the solution in India specifically. Partnering with Worldpay can boost Amazon Pay's volume significantly: Worldpay processes 40 billion transactions globally, 26.2 billion of which are in the US, totaling $1.7 trillion annually globally and this partnership can give Amazon Pay access to a network of merchants that could substantially boost both its volume and brand recognition as a payment method.
The partnership can give consumers more visibility into Amazon Pay. Although most of the major US card networks offer buy buttons, like Masterpass or Visa Checkout, and have beento be partnering on a collective buy button, the fragmentation on checkout pages has led to low volume for those players. As it stands, PayPal remains dominant in the space, with an 88.7% conversion rate.
This move can play into Amazon's broader push into financial services.This partnership will ultimately allow Amazon to expand a major source of volume outside of its own platform. And that can complement Amazon's move into commerce beyond its primary platform and financial services overall: Amazon
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