Amazon Pay, which has been around since 2007, made a leap into physical retail last week with the launch of Amazon Pay Places, which lets customers pay with Amazon at participating brick-and-mortar stores.
It’s a move that’s caused speculation as to whether this is another nail in the coffin for physical retail stores. By getting into payments at retail stores, Amazon is moving into a space that was once the exclusive domain of the banks. And with a growing army of loyal customers, Amazon’s encroachment into bank territory is seen by many as a threat to traditional financial services. Analysts say that while Amazon Pay may appeal to smaller retailers and fast-food restaurants, larger ones fearful of the competition may be reluctant to do so.
Read the full story on tearsheet.co
More in Marketing
OpenAI is coming for SMB advertisers
The company is going after smaller advertisers. Its job listings prove it.
Zoom relies on creators to boost AI search results
As AI changes how brands are discovered, Zoom is leaning on creators and journalists to shape its reputation.
Your favorite beauty brands are now also entertainment brands
Many of today’s beauty brands are asking if entertainment and advertising can be one and the same.