The new Amazon Pay Monthly program provides the customers with further payment options to suit their needs when shopping on website and it is easy, convenient and offers competitive rates and flexible terms.
Amazon UK recently introduced a monthly payment plan — Pay Monthly — for customers who purchase products it directly sells and ships.
The offer doesn’t extend to third-party retailers’ products on its site.
Hitachi Personal Finance will provide and administer the credit and payments, and customers have to apply to that company for credit.
How Pay Monthly Works
Customers can select “Pay Monthly” from among the payment options presented to them online.
They have to fill in Hitachi Personal Finance’s credit application form and will get a response within one minute. If they’re approved, they accept the credit agreement and place their order.
Other Benefits for Amazon
This is another experiment by Amazon to increase sales and loyalty.
Pay Monthly would be another benefit Amazon gives itself so that consumers prefer its own products to Amazon Marketplace products, while it collects advertising fees and gets access to sales data by hosting Marketplace sellers.
Restricting Pay Monthly to products sold and shipped directly by Amazon will not hurt the retailer because it sells and fulfills “millions of items.”
Killing Off the Competition
Amazon dominates the online retail market in both the United States and the UK.Amazon generates the greatest sales volume of all the online marketplaces they sell on.
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