INTRO: Amazon’s online payments service Amazon Pay has launched Smart Stores, a program that permits contactless shopping & payments in offline stores. Just like leading digital payment apps like Google Pay, Paytm, and PhonePe, Amazon’s solution supports scanning QR codes.
Amazon Pay Stores, however, comes with support for extra payment methods like cards and EMI. Amazon will reportedly offer a credit facility under its “Buy now, pay later” scheme. The company also will offer exclusive bank/brand offers to stores a part of the program. “The basic QR code payment method is accepted at 4 million stores across India. But, Smart Store may be a more evolved experience where customers pay using any payment instrument, including EMI and bank offers,” Amazon Pay CEO Mahendra Nerurkar told ET Tech.
According to Amazon, customers can scan QR codes present within the store to access a digital storefront. The feature will help customers learn more about the product, along with the ability to compare features and check offers. Customers will get purchase vouchers to redeem at an equivalent store. This move would possibly result in customer retention. In addition, the service will promote store offers to nearby customers.
“What we’re trying to try to do is bring the convenience of shopping online — the way you’ll be told, the varied payment instruments that you simply get, and making it available to every customer in any store,” Nerurkar added. Going by Amazon’s official Pay Stores page, the corporate has partnered with thousands of local shops across multiple brand partners including Oppo, Lenovo, Xiaomi, Samsung, Asus, and large Bazaar.