The stock of Amazon.com, Inc (NASDAQ:AMZN) closed at $1,406.08 gaining 0.060% in yesterday’s trading session. Amazon might anytime from now be unveiling a person-to-person payment system and from its latest statement, it made it clear that Alexa will be performing quite a significant role. Alexa is the Company’s voice automated assistant.
An official working with the Company has said that that the latest system will be revolutionizing the money transfer process. According to him, the money transfer process will become seamless and that is in close consideration of the fact that most of the users will be able to undertake the transfer of funds through a voice command .And it thus goes without saying that leveraging on the technological advancements is helping in the delivering of great experiences to users.
It is important to outline that the completion of the money transfer process is an activity that will compel one provide the actual bank account details of the person to whom the money is being transmitted to.
The latest move has been described by several market analysts as an effort by Amazon to strengthen its footprint both in the financial as well as in the payment sector. According to the Company, the successful launch of the voice supported peer-to-peer payment system with the help of Alexa will do quite much in terms of increasing the customers’ base in a significant way.
In terms of performance, it was reported that the shares of the company rose to 54.9% and the figure was a great outperformance of the industry’s rally of 41.4%.
The online retailer has over its many years of business operations looked forward to that moment where it would succeed at improving its competitive position. The unveiling of the Alexa supported payment system will be doing quite much in line with strengthening the company’s competitive position against several tech companies like Apple Inc (NASDAQ:AAPL), Square Inc. (NYSE:SQ) and PayPal Holdings Inc. (NASDAQ:PYPL).
All the above stipulate companies have already unveiled a pretty similar form of payment system. Hopefully, the latest move might be going quite a long way helping the company gain traction in the digital payment market.