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
How Kroger, Giant Eagle and DoorDash are building their agentic AI assistants
Companies are finding that they must deploy practical AI tools that bridge the gap between physical stores and online ordering.
Beauty brand Cakes wants to turn its TikTok virality into an owned media strategy
Cakes is launching Cakes Media to shift from paid TikTok views to a permanent, brand-owned audience as ad costs climb.
Mobile ad giants AppLovin and Unity locked in legal dispute over data collection
AppLovin seeks court order against Unity claiming improper collection of data generated through its business.