Western Union’s money movement platform will power the new payment option for cross-border customers shopping on Amazon.com, allowing them to pay in person, in local currency, through the Western Union agent network.
Customers in select countries will be offered the new payment option on the Amazon checkout page. Shoppers will be sent a code and instructions on how to make the payment at a participating Western Union agent location. Western Union’s platform will also power the process for cash refunds for product returns.
According to Forrester Research, cited in the press release, it is estimated that cross-border shopping will make up 20% of ecommerce by 2022, with sales reaching USD 630 billion. Choice, quality and cost are the main motivations for consumers to shop online from overseas, but there are challenges and concerns about the lack of payment options for consumers who prefer to pay in person or consumers who are not comfortable using online payment methods.
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