October 29, 2009
Amazon Simplifies Online Purchases With PayPhrase
Amazon.com launched a new feature to its shopping Web site that aims to simplify the purchasing procedure for its customers.
The company announced its new Amazon PayPhrase feature on Thursday.The feature will allow consumers to create a unique phrase and a 4-digit PIN that will let them access their payment information without having to type in their credit card number and billing information upon each purchase.
"We think this is a huge benefit for the holidays," said Matt Williams, general manager of Amazon PayPhrase.
"The vision of PayPhrase is truly to be able to allow you to pay instantly wherever you want to pay."
Amazon will earn a commission from each processed payment using PayPhrase on third-party Web sites.
Web sites that currently use Amazon's Checkout service will also feature PayPhrase options.
Reuters cited a study from Shop.org that shows 45.8 percent of online retailers expect holiday sales to be at least 15 percent higher than last year.
Amazon's optimistic outlook for holiday season sales sent its shares to an all-time high last week.
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