A new solution may be introduced by the internet retailer according to recent filings made by the company.
Though nothing official has been announced just yet, the mobile payments industry believes that Amazon is preparing to release its own platform that will offer a solution similar to GoPayment, PayAnywhere, or Square.
This assumption has been made based on recent official filings that have been made by Amazon.
The filing that has drawn the attention of the mobile payments world to Amazon was made with the United States Patent and Trademark Office. This filing was made with regards to a platform that has been described in a way that would suggest that individuals would be able to complete their transactions without having to share their personal data with the retailer.
The filing was for the Amazon “Anonymous mobile payments” platform, which is meant to boost security.
The purpose to the Anonymous mobile payments platform is to make sure that a transaction can be completed over a user’s smartphone or tablet without having to provide the merchant with private or personal information about him or herself. That said, Amazon is far from being an early entrant into the marketplace.
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This space already has a considerable amount of competition, and it will have a lot of catching up to do if it wants to make its name in time for the explosion of the use of this type of service. It looks as though the company will be trying to differentiate itself from the competition by promoting the privacy and security of its service when compared to the other forms of mobile payments that are currently available.
According to a recent blog post from PayAnywhere, “With the ease provided by mobile apps and wireless Internet, things like checks and mechanical registers are starting to seem like dinosaurs,” it went on to say that mobile payments options give merchants the chance to receive transactions at storefronts by way of readers that connect to tablets and smartphones. “With the addition of data analytic and promotional tools, the vast benefits of mobile are drawing thousands of new converts each month. As more and more merchants adopt mobile readers for credit card processing, consumers by and large are coming to favor the option.”
Amazon’s mobile payments service is believed to allow a consumer to initiate a transaction through the use of a text message authorization process.