Amazon together with Santander to introduce a new Amazon Visa card in Germany.
With the card, users can earn Rewards when shopping on and outside of Amazon’s German website, according to a press release on Monday (12 August). Rewards can be redeemed at Amazon.
“Cardholders can pay for their purchases quickly, intuitively and securely via ZiniyaSantander’s consumer credit platform, and they can choose between full and revolving payment at any time,” the press release states.
The announcement came weeks after reports that Amazon and Santander were working on a deal that would see the Spanish bank Financing options for Amazon customers throughout the European Union, starting in Germany.
Santander said the aim is to grow its digital consumer lending business by signing deals with global technology companies to provide customers with credit at the checkout to finance their purchases.
Santander also announced that Zinia will become the provider of consumer credit services for Apple in Germany both in stationary stores and on apple.de.
The PYMNTS intelligence report “How non-financial brands can benefit from offering embedded financial services“” found that embedded financial services benefit both consumers and businesses by providing customers with more ways to interact with their favorite brands. 88 percent of companies offering embedded financial services said it helps improve customer loyalty.
Additionally, the report found that 32% of consumers said they spent more with a non-financial brand after receiving a financial product from that brand.
Meanwhile, PYMNTS spoke to Daniel IwachiwProduct Manager for Visa Canada, after the introduction of a Installment payments Collaboration with Amazon.
“There is no better partner to drive adoption and scalability of Visa’s installment payment solution than working with someone like Amazon,” Iwachiw said at the time. “We are excited to expand our partnership with them and bring Canada to be first stop on this new journey. It is a natural extension of our entire relationship and a that we seek expand further and grow.”
Installment plans are gaining traction in Canada. Research by Visa found that nearly 6 in 10 Canadian consumers are interested in using installment plans. The company also predicted that installment plans will become almost 25% of all global e-commerce transactions.
