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Amazon Pay vs Paytm
May 24, 2023 | Author: Sandeep Sharma
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Millions of Amazon customers can login and pay on your website with their stored account information on Amazon.com. Login and Pay with Amazon can help you add new customers, increase sales and turn casual browsers into buyers. It’s fast, easy and trusted — leverage the Amazon brand to grow your business.
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Paytm is India’s largest mobile commerce platform. Paytm started by offering mobile recharge and utility bill payments and today it offers a full marketplace to consumers on its mobile apps. We have over 20mn registered users. In a short span of time Paytm has scaled to more than 15 Million orders per month.
Amazon Pay and Paytm are both popular digital payment platforms, but they differ in their scope, user base, and features. Amazon Pay is an online payment service provided by Amazon that allows users to make payments on various websites and apps using their Amazon account credentials. It offers a secure and seamless checkout experience and is primarily used for online shopping on platforms that support Amazon Pay. On the other hand, Paytm is an Indian digital payment platform that provides a wide range of services, including mobile recharges, bill payments, money transfers, online shopping, and more. Paytm has a large user base in India and offers additional features such as digital wallets, cashback rewards, and integration with various offline merchants.
See also: Top 10 Online Payment platforms
See also: Top 10 Online Payment platforms
Amazon Pay vs Paytm in our news:
2014. Amazon launches mobile card reader to compete with PayPal and Square
Amazon has made its entry into the mobile payments market with the introduction of Local Register, a card reader and mobile app designed for small businesses. This new offering directly competes with established players such as Square and PayPal in the rapidly expanding payment transactions market. To get started with Local Register, users are required to register, purchase a $10 card reader, and download the free app, which is accessible through Amazon, Apple, or Google platforms. Upon registration, users will receive a reimbursement of the first $10 in transaction fees, effectively covering the initial reader cost. Amazon is currently launching the product with a limited-time offer to incentivize businesses to join. Companies that sign up before October 31 will be charged a swipe fee of 1.75% until January 1, 2016, which is lower than the 2.75% charged by Square and the 2.7% charged by PayPal's card reader program. Amazon's standard rate for Local Register transactions will be set at 2.5%.
