Cross-border, cross-currency money-movement firm Western Union has unveiled a new payment option that allows Amazon customers in Hong Kong and other Asian markets 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, the Philippines, Taiwan and Thailand – enabling customers who prefer to pay in cash to shop Amazon.com’s vast product selection.
The new platform is called Amazon PayCode, which processes 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.
“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 GM 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 of 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.”