Amazon goes physical with new mobile wallet application

A new addition to both Apple’s AppStore and Google PlayStore show intentions from US Ecommerce platform provider Amazon on mobile payment method solutions.

The addition to the app stores dubbed Amazon Wallet currently only offers the ability to store and manage gift and loyalty cards. However, given Amazon’s track record, we expect the wallet is currently being tested before offering full-on card support. Users can scan or manually enter their gift cards in to the application. After being stored users can present their cards as barcodes, QR codes, texts or images. Some supporting merchants will also have the option to let customers check their balance.

While not offering mPOS or mobile Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term at launch, the Amazon Wallet web interface does include the option to change and edit payment methods associated to a user’s account.

It would seem Amazon is also looking to expand and offer its own payment offering for its mobile platform as well as overlap onto Android and iOS. Amazon Fire Phones will now be shipping with Amazon Wallet pre-installed, similar to Apple’s passbook, and Google’s Google Wallet.

Other rumors point to Amazon also entering p2p transfers to take on the likes PayPal and Square Cash.

Also reinforcing future possibilities, Amazon Wallet is currently in beta. Having the app in beta gives Amazon more wiggle room when it comes to bugs and streamlining the service whilst having it being tested out in the wild.

Experts, including ourselves, are trying to figure out Amazon’s intentions from moving into the realm of physical points of sale. The wallet does seem heavily stripped of any ground breaking features, making it hard to compare with other wallets on the market which offer a plethora of possibilities and robust infrastructures. Time and app updates will show if Amazon has what it takes to take on more feature rich rivals in the POS arena.

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