Friday, 07 August 2020

Amazon Teams Up With WorldPay

Amazon, the online retailer, has collaborated with WorldPay, the global payments processing company to accommodate Amazon Pay to an extensive list of merchants of WorldPay.
Thanks to this partnership, now WorldPay has become the first acquirer to integrate Amazon Pay for its merchants fully.

Marking a milestone incident for the payments industry, this will definitely make Amazon Pay to establish as a leader in the payments market. Besides being the popular payment method on the leading e-commerce platform, Amazon Pay is widely used outside by brick and mortar retailers and other online merchants across the globe. Amazon Pay is set to strengthen merchants’ interactions with buyers, and partnership with WorldPay is the starting point for future innovations in the payment industry.

On this occasion, Patrick Gauthier, Vice President of Amazon Pay said, the partnership with WorldPay is a crucial step towards Amazon Pay’s vision to become available to worldwide merchants. The company has the vision to become a global leader in not only online retail, but in payments as well. We not only wanted to simplify integration and onboarding but how to better manage operations on a continuing basis. And the best solution was to add a large merchant acquirer, as it streamlines day-to-day issues around settlement, reconciliation, reporting and dispute management.”

This newfound partnership with WorldPay has drawn the attention of Ripple fans. The XRP Army is anticipating that Amazon is moving closer towards implementing Ripple. Moreover, WorldPay was recently acquired by the US fintech company, Fidelity National Information Services Inc. (FIS).

FIS is also a partner of Ripple. Since FIS was already partnered with Ripple before acquiring WorldPay, now that WorldPay is partnering with Amazon Pay, it logically seems to be an indirect step of Amazon towards Ripple.

Furthermore, Amazon has entered into a partnership with Axis, an Indian bank that is a participant of Ripple’s network. Amazon and Axis are working together to ensure the functionality of a new payment app for the purchasing of products on Amazon, and XRP was applied in this very case.

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