Sometimes when my spider-sense tingles, it’s hard to back it up with concrete evidence. So I may be going out on a limb this week by suggesting that Amazon’s rebranded payment service (yawn) “Pay with Amazon” could become a major player in mobile commerce.
Why do I think that this seemingly innocuous announcement, which took place at a payment systems conference, Money 2020, on October 8th, 2013, is an important 3D chess move by Master Bezos? First, I’m not the only one who found this announcement significant. Nigel Powell of RedFerret fame blogged that Pay with Amazon “will completely change the face of online retail.” But I’m sticking my neck out a bit further (with no real evidence) to say that I believe that Pay with Amazon is coming soon to your mobile phone.
What I like about the idea of using Pay with Amazon on my phone to pay for things I buy is that it leverages the investment I’ve already made in entering all my credit cards and payment info and account information into Amazon—a trusted shopping partner I’ve been using for years. And I won’t have to worry about the fact that, if I lose my phone, someone can gain access to my money or my credit cards. They remain securely locked away in Amazonland.