Amazon speeds up payments with ‘payphrase’

Posted by Bearing on Tuesday, November 3, 2009

Amazon has launched a new online payment service that lets users pay for goods on the internet by entering a phrase and a PIN number.

The service, called ‘PayPhrase’ links two-word phrase and a four-digit PIN number to the users’ credit card and shipping details already stored on their Amazon accounts.

Currently only available in the US, the system lets users create their own phrase or use the one provided by Amazon.

Each PayPhrase is unique, and can vary in length from only four to 100 characters.

Amazon is encouraging parents to supply their children with PayPhrases and PINs, which are given a set spending allowance each month.

Amazon is also encouraging customers to create different PayPhrases for different shipping addresses, further increasing the temptation to write those key phrases and PIN numbers down somewhere.

“PayPhrase solves the headache of trying to keep track of all the different usernames and passwords people use to shop on various sites across the web,” said Amazon’s PayPhrase general manager Matt Williams. “With PayPhrase all you need is one phrase and one PIN to pay online,” he adds.

Source: Netimperative

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