Amazon has launched its own online wallet service known as Amazon Wallet. The app is available for the Fire Phone and standard Android smartphones via the Play Store.
The idea for the app is to avoid carrying around multiple cards and instead to easily have access to a barcode, QR code, text or image on your phone. Cards entered in the app include loyalty cards, gift cards and membership cards ,with other options yet to come, seeing as the app is in beta at the moment.
How Amazon Wallet works
Amazon Wallet allows users to scan or enter in gift card, loyalty card and membership card information to reduce physical wallet clutter. It makes the cards available in a barcode, QR code, text or image format. Users can also check balances of multiple stored gift cards.
However, the application is in its early stages and does not yet support mobile payments and store debit or credit cards. It only organizes and stores cards whose codes are typically entered at checkout. There is also a website for the Amazon Wallet service, which permits users to log in and enter card information, which then appears in the mobile app.
Online users can manage other payment methods like credit cards, debit cards and checking accounts, and later on use them when shopping on Amazon, though not at point of sale. Although the current version of Amazon Wallet doesn’t have all of the planned features, the app is expected to compete with Google Wallet or PayPal especially when it comes to peer-to-peer payments.
Amazon has had plans to target its merchant customer base in offline local e-commerce as well. The Fire Phone will make this prospect a reality as it allows users to scan and connect online payment services with real world ones.
Amazon launches Its Own Mobile Wallet
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