How would you like to pay? Now accepting Amazon Payments.
Last week we posted a bit of a teaser – that team Vindicia had been working in cahoots with Amazon to help them build a better subscription payment model. Well, today, we’re rolling out a new option that makes life easier for our clients and their customers. Now, with a single login to Amazon Payments, consumers can take care of any recurring payment for subscriptions.
Why does this matter? Because until now, you could only pay for subscriptions with Amazon Payments for Amazon services -- like Prime or Kindle. No more.
We worked with Amazon to co-develop this as a no-hassle, secure “win-win” for merchants and consumers alike. Now any outside business can offer Amazon as a way to pay: For merchants, less hassle means more customers and less churn. For consumers, it’s just easier, period.
There are 240+ million Amazon accounts out there, all with preferred payment methods and details, that are accessed every day for everything from videos to sports equipment, digital content to shoes. You name it, Amazon’s one-click payment system can be used to pay for it.
But before we came along, consumers could only use Amazon recurring payments for Amazon services: no outside businesses could offer their customers the option to use Amazon Payments for subscriptions. They would instead have to ask their customers to continue punching in the data for other cards, or perhaps even a PayPal account, to make their recurring payments.
We saw that as being too much trouble, and also as being shortsighted. Amazon has become a trusted payment method for so many consumers – we decided to offer it and include it as a payment method for our subscription clients.
So we paired up with Amazon and worked lockstep to develop the latest subscription billing system. In the process our flagship product, Vindicia® Cashbox®, essentially got a major upgrade with Amazon Payments, and can now support every payment method stored in an Amazon customer’s account, which (a) offers merchants a globally recognized and respected brand as a payment option; (b) reduces churn as customers sometimes jump ship before finalizing a purchase (one click and you’ve paid); and (c) expands our retailers’ customer base.
It’s a win-win. The clients we support – the ones that depend on subscriptions and recurring payments for their bottom line – get a new one-stop, secure and brand name payment option to offer their customers. And the consumers? They can leave their wallets in their back pockets and purses, so long as they remember their Amazon log-in password.
We’re the first subscription billing platform to do this, and it opens up a whole new world (and online customer base) of recurring billing simplicity and options to online merchants.