The pressure is on for Amazon to amp up its payments efforts.
CEO Jeff Bezos is lighting a fire under Amazon’s team to make payments one of its top areas of focus and investment, according to Re/Code’s Jason Del Ray.
“Jeff’s told us it’s something we need to be successful in, and should be successful in,” Tom Taylor, head of payments at Amazon, told Re/Code. “The pressure I feel from Jeff is, ‘Go faster.'”
Amazon, which has about 224 million credit cards on file, launched Login and Pay With Amazon last fall, which enables e-commerce sites to allow their customers to sign into their Amazon accounts to access their credit card and shipping information, saving them the hassle of entering all that info again. Since its launch, the product has gotten thousands of sites on board, but with only a few big names — like the inflight Internet service Gogo — making the list.
However, because the feature is such a low-friction method of payment and because Amazon doesn’t get any information from partner sites about which products customers purchase, which could have otherwise deterred sites wary of giving Amazon valuable data, Amazon will likely start signing on more sites as e-commerce and mobile commerce continue to grow as a percentage of retail shopping.
The company also already has a leg-up when it comes to making a mobile payments app, because a majority of its userbase already use Amazon on their phones (29% use mobile exclusively). However, Taylor alluded to Re/Code that Amazon won’t be it won’t be creating the sort of mobile wallet that lets users pay for anything, anywhere using their phones any time soon. Instead, it will be looking for specific scenarios, like when people have to pay for street parking, that it thinks are really frustrating for people.
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
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