What's Going On With Amazon.Com Stock Thursday?

Amazon.Com Inc AMZN is expanding the scope of its 'buy now, pay later' (BNPL) feature, making it accessible not only on its platform but also through the Amazon Pay utility on different e-commerce platforms.

"Our Amazon Pay partners can now effortlessly tap into a broader audience, granting them enhanced payment alternatives," Amazon Pay Director Omar Soudodi communicated via email, Payments Dive reports.

Also Read: Third Party Sellers on Amazon May Have To Shell Out An Additional Fee - Here's Why

Amazon's BNPL Evolution

With Amazon Pay, consumers can select the 'equal monthly payments' choice for web-based purchases worth a minimum of $50. This facilitates breaking down the payment into six or twelve equal installments, all at a zero percent interest rate. 

However, there's a caveat: only those wielding Amazon's Visa credit cards can avail of this BNPL service.

The said offering has now been incorporated across many online retailers, naming a few, such as Lenovo, Tennis Express, and Authentic Watches.

Interestingly, Amazon commenced its BNPL financing journey back in 2018. The service had already garnered a significant user base when it was exclusive to Amazon.com. 

Furthermore, existing e-commerce platforms using the Amazon Pay checkout feature need not make any tweaks to benefit from this new enhancement.

Diverse Payment Modalities

Amazon boasts an array of payment alternatives. Notably, in 2021, it integrated Affirm Holdings, Inc AFRM into its payment options during checkout.

In technological advancements, Amazon is gearing up to introduce its unique palm recognition payment mechanism across physical storefronts. Just the previous month, the ambitious rollout of its 'Amazon One' biometric service across all Whole Foods grocery outlets was publicized.

Amazon is amid multiple initiatives to unlock shareholder value, including designing custom microchips for AWS' generative AI training, logistics and delivery mechanism restructuring, and a grocery business overhaul.

Also Read: The E-Commerce Duel: Walmart+ Rising as Amazon Prime's Rival: Report

Price Action: AMZN shares traded lower by 0.50% at $134.39 on the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.