Saturday, November 7, 2009

Amazons PayPhrase

Amazon has introduced a new service called Amazon PayPhrase that lets you the customer use stored payment information without a credit card number. The customer will store the credit card number and shipping address on Amazon's servers. When they are ready to check out all they need to do is provide a pin number and phrase.

Sounds like an interesting take on tokenized payments. It can be done in a similar manner by simply using a payment processor that accepts tokenized payments. It really isn't that difficult and will save you a ton of money when compared to Amazon's high processing fees.

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