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Bodhi

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Scouse

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Business fight. Amazon getting punchy.

It'll be part of their excuse to rollout crypto payments which can be famously cheap (but they'll still charge, and take that fee for themselves and add it to their profit) :)
 
Deebs

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My bank recently moved away from Visa Debit cards to Mastercard. They still issue Visa Credit cards atm....
 
Scouse

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Inflation running near 5% eh?

Going to put in for a 20% pay rise. See where I get :)
 
DaGaffer

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Scouse said:
Business fight. Amazon getting punchy.

It'll be part of their excuse to rollout crypto payments which can be famously cheap (but they'll still charge, and take that fee for themselves and add it to their profit) :)
Click to expand...

They don't need crypto; they'll get a PISP licence and use Open Banking. UK will be the test market before they roll it across Europe. This is the nightmare scenario for Visa; tbh I'm actually surprised Amazon have pulled the trigger so early, but Brexit is a good opportunity for a test case.
 
Aoami

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DaGaffer said:
They don't need crypto; they'll get a PISP licence and use Open Banking. UK will be the test market before they roll it across Europe. This is the nightmare scenario for Visa; tbh I'm actually surprised Amazon have pulled the trigger so early, but Brexit is a good opportunity for a test case.
Click to expand...

ELI5? Any knock-on effect to the consumer other than Visa not being accepted?
 
Scouse

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DaGaffer said:
They don't need crypto; they'll get a PISP licence and use Open Banking. UK will be the test market before they roll it across Europe. This is the nightmare scenario for Visa; tbh I'm actually surprised Amazon have pulled the trigger so early, but Brexit is a good opportunity for a test case.
Click to expand...
It had occured to me actually but I didn't know the nomenclature :) I wonder what the consumer protection is like vs VISA credit cards when it comes to disputed paymemts.
 
Embattle

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Scouse said:
It had occured to me actually but I didn't know the nomenclature :) I wonder what the consumer protection is like vs VISA credit cards when it comes to disputed paymemts.
Click to expand...

It is the only reason I buy with my with my VISA credit card.
 
Ormorof

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Visa is a bunch of monopolistic twats

Their fees are so complex that you effectively have no idea what your payment cost will be until you get charged. Mastercard aren't much better. If Open Banking gets really going with good, easy to use (and integrate to from provider perspective) then credit cards will start to go away

Its already happening across Europe with alternative payment methods, the main problem (from a company like Amazon perspective) is that there isnt a good (cheap) one that covers many countries like AliPay does in Asia. Paypal comes close when it comes to coverage but their fees are 2-3 times higher than Visa so doesn't help much
 
DaGaffer

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Ormorof said:
Visa is a bunch of monopolistic twats

Their fees are so complex that you effectively have no idea what your payment cost will be until you get charged. Mastercard aren't much better. If Open Banking gets really going with good, easy to use (and integrate to from provider perspective) then credit cards will start to go away

Its already happening across Europe with alternative payment methods, the main problem (from a company like Amazon perspective) is that there isnt a good (cheap) one that covers many countries like AliPay does in Asia. Paypal comes close when it comes to coverage but their fees are 2-3 times higher than Visa so doesn't help much
Click to expand...

Which is why Amazon will get into payments themselves and keep the money. Its kind of inevitable. I think the only thing that would hold them back is the OB user experience can be a bit clunky and Amazon can't control the journey end to end (Auth is defined by your bank's choice of credentials) but things are constantly improving.
 
DaGaffer

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Scouse said:
It had occured to me actually but I didn't know the nomenclature :) I wonder what the consumer protection is like vs VISA credit cards when it comes to disputed paymemts.
Click to expand...

There are good rules in place and any PISP (or AISP) has to be a regulated entity. OB isn't as slick as a card payment (especially as Amazon don't bother with CVV), certainly not on the first authorisation, but Amazon have probably done the maths to say the drop in conversion rates they would see at first will be offset by the fee saving fairly quickly.
 
Ormorof

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DaGaffer said:
Which is why Amazon will get into payments themselves and keep the money. Its kind of inevitable. I think the only thing that would hold them back is the OB user experience can be a bit clunky and Amazon can't control the journey end to end (Auth is defined by your bank's choice of credentials) but things are constantly improving.
Click to expand...

They already have Amazon Pay in many countries, but as you said the OB is quite clunky. Here in Finland it works the same as a 3DS2 payment so for most users it is familiar (but still shit). Providers like MobilePay use an appswitch similar to ApplePay to do SEPA direct debits and its super smooth and easy to use (and setup for user and integrators)

I think Klarna allows tokenisation for SEPA in some countries but not all so its a bit inconsistently supported
 
DaGaffer

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Ormorof said:
They already have Amazon Pay in many countries, but as you said the OB is quite clunky. Here in Finland it works the same as a 3DS2 payment so for most users it is familiar (but still shit). Providers like MobilePay use an appswitch similar to ApplePay to do SEPA direct debits and its super smooth and easy to use (and setup for user and integrators)

I think Klarna allows tokenisation for SEPA in some countries but not all so its a bit inconsistently supported
Click to expand...

Isn't Amazon Pay just a merchant service like Stripe? I didn't think it had a consumer front end.
 
Ormorof

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DaGaffer said:
Isn't Amazon Pay just a merchant service like Stripe? I didn't think it had a consumer front end.
Click to expand...

Its a payment institute so they can do their own banking and acquiring already, open banking in Europe seems like a logical next step if they want to expand more into smaller/weirder european markets (like Hungary)
 
Raven

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Fact of the day, there are indeed instructions on what Parish Councils should do when the queen shuffles off this mortal coil and no, apparently I cannot comment on them.
 
Raven

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Because its quite interesting that it is being circulated.
 
MYstIC G

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