Shop online pay in-person
A deal inked between Amazon and Western Union, last Wednesday, 31st of October, made a new payment option available for Amazon customers across the globe. According to a press release by Western Union, this payment option will enable the Amazon customer to buy products online and pay in with their respective local currency in person. This will give the customers an opportunity to access the wide range of products offered by the leading e-commerce site.
According to the president and CEO, Western Union, “We’re leveraging our money movement platform to make it easier to shop global and pay local. By facilitating the complex foreign exchange and settlement process, we’re opening up more consumer choices and access to online shopping for tens of millions of potential new Amazon customers.”
This facility will be implemented in a few select countries where the person can pay in person. There will be an option “in person” to be included in the checkout section of Amazon. Once the customer selects the option they will be greeted by Western Union with a message, stating the location of the exchange in which the payment should be made along with the instructions about the payment procedure and a unique code. It will also facilitate refund options, where the customers can go to the same exchange and get their money back, in case the refund is initiated.
According to Forrester research, cross border shopping will account for 20 percent of electronic commerce sale by the year 2022 which will be approximately $630 billion in sales, so by the “in person” option customers who are reluctant to pay online will be benefitted a ton and this also will increase the sale percentage.
This money exchange moment is planned to be initiated across 200 countries. This also will help a great deal to expand the reach of Amazon; with 15 market places across the planet now there will not be a demand for Amazon to open in every country and market place.
”There are people in the world who want greater access to Amazon’s huge product selection but paying for those purchases has been a real obstacle for many customers” Mr.Ersek mentioned in the release.
In an interview to a website, Ersek mentioned that the global issue of borderless payments has been addressed and now people will be able to pay through their mobile as well as in person. Once the project rolls out the expanded reach of Amazon will increase by fold, also the risk involved for the company and customer will be reduced with all the compliance checks.