Home / Knowledge / News / Apparel/Garments / Western Union's payment way for Amazon shoppers in Peru

Western Union's payment way for Amazon shoppers in Peru

21
Feb '19
Pic: Business Wire
Pic: Business Wire
The Western Union Company, a leader in cross-border, cross-currency money movement, has introduced a new payment option that allows Amazon customers in Peru to pay in local currency for their purchases. The service is being offered initially in 10 countries – Chile, Colombia, Hong Kong, Indonesia, Kenya, Malaysia, Peru, Philippines, Taiwan and Thailand.

Western Union’s platform is powering Amazon’s new cross-border payment option, called Amazon PayCode, by processing the complex foreign exchange, settlement and money movement requirements for international e-commerce transactions.

After selecting PayCode on the Amazon.com checkout page, customers will be sent a code, along with instructions on how to pay in person at a participating Western Union agent location. The move by Western Union and Amazon will provide greater access to online goods for customers who have largely been excluded from e-commerce shopping due to lack of accepted payment methods.

Forrester Research estimates that cross-border shopping will represent 20 per cent of e-commerce by 2022, with sales reaching $630 billion. Choice, quality and cost are the main motivations for customers to shop online from overseas, but there are challenges and concerns about the lack of payment options for those who prefer to pay in person or those who do not have access to international credit cards or debit cards.

“We’re helping to unlock access to Amazon.com for customers who need and want items that can only be found online in many parts of the world,” said Khalid Fellahi, SVP and general manager of Western Union Digital. “This is a great example of two global brands innovating and collaborating to bring customers more convenience and choice. In a world where cross-border buyers and sellers are often located on different continents and in completely different financial ecosystems, our platform is ideally suited to solving the complexity of collecting local currency and converting it into whatever currency merchants need on the other end.”

“Amazon is committed to enabling customers anywhere in the world to shop on Amazon.com, and a big part of that is to allow customers to pay for their cross-border online purchases in a way that is most convenient for them,” said Ben Volk, director, Payment Acceptance and Experience at Amazon. “Amazon PayCode leverages the reach of Western Union to make cross-border online shopping a reliable and convenient experience for customers who do not have access to international credit cards, or prefer to pay in cash.” (SV)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Jun 2021

Half of all cotton-growing regions face severe climate risks by 2040

Climate change could expose half of cotton-growing regions globally...

Pic: Beximco Ltd

Textiles | On 25th Jun 2021

BSEC offers letter of intent to BEXIMCO's Tk 3000-cr Islamic bonds

The Bangladesh Securities and Exchange Commission (BSEC) recently...

Pic: Shutterstock

Textiles | On 25th Jun 2021

Prime Content| Australian cotton production, exports to grow in coming season: TexPro

Australian cotton production and exports are expected to move up...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Tony Naschberger,

Tony Naschberger

With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search