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 expands ads manager to U.K., adds CPC
Similar to the U.S. the ads manager is now widely available in the U.K., and is the fifth market where advertisers can access it.
As AI scrutiny grows, DUDE Wipes points to supply chain savings and productivity gains
AI may be facing an ROI reckoning. Brands, agencies and tech vendors alike are starting to face harder questions about whether generative AI can deliver the meaningful business results it promises. The honeymoon phase, however, isn’t over yet. DUDE Wipes has AI tools across the company, reducing man hours in supply chain tasks — providing employees […]
Invisible Cannes: The hidden workforce behind the Croisette
Everyone focuses on beach activations, cabanas and A-listers. But there’s an entire infrastructure brands rely on to pull off the event.