One of the biggest online retailers in the world is Amazon which has recently partnered with the global payments processing firm WorldPay to add Amazon Pay to WorldPay’s huge list of merchants, according to a press release by PYMNTS on 20th March 2019.
This collaboration will make WorldPay the first acquirer to 100 percent implement Amazon Pay for its merchants, making it a milestone event for the payments industry.
Amazon Pay a popular payment method on the e-commerce platform and it is also widely used outside of the Amazon website in the different industries too as well as another merchant around the world.
Nevertheless, according to Patrick Gauthier, Amazon Pay Vice President, their WorldPay partnership is a serious step towards Amazon Pay’s vision to become much more widely available to merchants. The company has a desire to become a world leader in not only online retail but in payments as well.
Speaking in regards to Amazon Pay’s strategy to make this goal a reality, Gauthier said:
“We started to really think about how [we] not only simplify integration and onboarding, but [how to] better manage operations on an ongoing basis. We decided the best solution for us was to integrate with a large merchant acquirer, as that simplifies a lot of the day-to-day issues around settlement, reconciliation, reporting and dispute management.”
Moreover, Gauthier proclaimed that Amazon Pay will improve merchants’ interactions with buyers, stating that this partnership with WorldPay would become the starting point for further innovations in the payment industry.
The newfound partnership between Amazon Pay and WorldPay has got Ripple enthusiasts excited that Amazon is getting tantalisingly closer to adopting Ripple. This is down to WorldPay being recently bought out by the US fintech firm, Fidelity National Information Services who are also a partner of Ripple Labs.
In addition, Amazon Pay’s Gauthier did say that this recent partnership is only the starting point for further innovations in the payments industry.
As reported by Invest in Blockchain:
“Amazon has been collaborating with Axis, an Indian bank that is a participant of Ripple’s network. According to Coinspeaker, Amazon and Axis are working together to ensure the functionality of a new payment app for the purchasing of products on Amazon, and XRP was applied in this very case.”