What is Amazon Pay For Business?

To make use of Amazon Pay for Business However, your clients should have an Amazon account, so that they can use the service to access their billing and shipping details. You can even link your amazon pay with your Amazon vendor central account.

Let’s explore the details of the way Amazon Pay works so you can decide if it is a good fit for your particular needs as a company and for customers. Ovik Mkrtchyan

How Does Amazon Pay Work?

Amazon Pay comes with a flexible API that can be integrated with e-commerce platforms such as Shopify as well as BigCommerce. If you’re interested in using Amazon Pay, then you’ll have to choose either of them and then sign up for your own Amazon Seller account.

The next step is to place the right buttons on your site. In general, expect this to take a few weeks.

It is important to remember that your company will only be qualified to use Amazon Pay when you meet the following criteria: Ovik Mkrtchyan

• The company must be located within the U.S. with a registered business address.
• You need to have a company bank account number as well as a phone number.
• In the end, you’ll need to complete your business credit card details.

When you sign up to get the Amazon Seller account, be aware that Amazon Pay will hold your funds for 14 days prior to when they transfer them to your account at the bank. Following this time your money will become available in a matter of days.

Amazon Pay Fees

Like similar payment processing companies, there’s a cost to utilize Amazon Pay, and they charge businesses for the privilege of being able to make use of their service. It is possible to pay a flat amount to each Amazon Pay transaction, which comprises an authorization fee and a transaction fee. In certain instances, you’ll be liable for tax charges in addition and it’s important to take this into consideration.

If you’re a domestic for-profit company, you’ll be responsible for the following fees: 2.9 percent transaction fee as well as a $0.30 authorization fee. If that you’re an international company and you’re a foreign business, you’ll have to pay a.3.9 percentage transaction fee and a $0.30 charge for authorization.

There’s a little less for a charity because Amazon Charges a 2.2 percent transaction fee, along with a $0.30 authorization fee to US entities, as well as the 3.2 percent transaction fee and $0.30 authorization fee to entities with international.

If you’re able to pay for refunds using Amazon Pay, Amazon will only reimburse the transaction cost and retain an authorization charge. You’ll also be liable for a fee of $20 for a chargeback dispute. The good thing is that you will not be required to pay any monthly or annual fees for using services and you are able to end your subscription without cost.

Pros of Amazon Pay

While there are many benefits that come with this service for businesses, some of the most notable are:

• Easy Payment Option In the event that the checkout process online is complicated or takes a long time customers may look for alternatives to similar products or services. It simplifies payments and could result in more conversions and better profit margins.
• Secure Amazon name: This is a leader in the world of e-commerce, so most people have heard of Amazon.
• No fees for termination: It is virtually risk-free since you can end the service at any time without having to pay anything. If you find that it’s not for you it’s possible to change to a different service without sacrificing any.

Cons of Amazon Pay

The most notable disadvantages for Amazon Pay are as follows:

• Amazon Account required For Customers: Your customer won’t allow play without already creating an account. They can, however, create an account swiftly and effortlessly.
• Comprehensive Signup Process: If you’re looking to start your own online store using it, expect a very long signup procedure. You’ll have to fill out lots of documentation and it will take a few days to get it done.
• High fees: The flat fees per transaction can be high when you’re selling a service or product with a small margin. You might be able to cut costs by making payments with another platform.

Amazon Pay Alternatives

If you think isn’t right for your company, you might think about these alternative alternatives.

PayPal

In the past, PayPal has become an essential part of payment processing on the internet. It is possible to incorporate Payflow Link and Payflow Pro with your eCommerce website. In contrast, Payflow Link is free to use, Payflow Pro charges $25 per month, plus the initial $99 setup cost. Payflow Pro’s biggest benefit Payflow Pro, however, is its completely customized check-out procedure.

Square

It is possible to download Square on your smartphone or laptop and connect it to one of its card readers externally. In this way, you can accept in-person transactions. It is also possible to make use of Square’s virtual terminal which is compatible with various websites that accept payments. Square also has an Online Store that you can make use of to provide a simple payment experience for your website.

2Checkout

With 2Checkout, you’ll be able to accept international payments without hassle. Because it’s compatible with over a hundred currencies and eight different payment options, and fifteen languages. 2Checkout doesn’t cost you charges for setup or monthly fees and allows you to set up installment transactions for clients. It also provides customized checkout options that are mobile-friendly and custom-branded to fit your business’s specific requirements.

Who is Amazon Pay Good For?

If you’re an e-commerce company that doesn’t have physical locations, Amazon Pay may be beneficial. It’s also a good option if you are already a member of an Amazon Seller account. Currently selling on Amazon, and are looking for a “no-frills” payment processor. That doesn’t require setup or monthly charges.

Are you still unsure whether Amazon Pay for business is the right choice for your eCommerce plan? It’s a good thing you can test it without risk.