Amazon partners with Western Union for international payment option
Nov 1, 2018
Amazon has partnered with Western Union to launch a new payment option providing new shopping opportunities to international customers.
Using the Western Union agent network and payment option, Amazon shoppers from select countries will be able to pay in person, in local currency where available, for their cross-border online purchases.
The new payment option will be available on Amazon's online checkout page. Once selected, shoppers will be sent a code and instructions on how to pay for their purchases at their nearest participating Western Union agent location. In addition, the money movement company will manage cash refunds for product returns made through the service.
“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,” said Hikmet Ersek, president and CEO of Western Union, in a press release. “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.”
According to market research company Forrester Research, cross-border shopping is set to make up 20% of e-commerce by 2022, adding up to $630 billion in sales. Amazon's partnership with Western Union will decrease the need for online currency exchanges, making the e-commerce giant an option for customers around the world and potentially turning it into a greater threat to native retailers.
Western Union operates a C2C payment model in over 200 countries and territories, offering digital transactions in more than 50.
Previously, the company has partnered with international chat apps Viber and WeChat to offer its payment services.
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