Amazon unveils new mobile wallet app

Amazon rolled out its own consumer-facing mobile wallet app to strengthen its footprint in e-commerce landscape.

Amazon rolled out its own consumer-facing mobile wallet app to strengthen its footprint in e-commerce landscape.

Dubbed as Amazon Wallet, the new mobile wallet app is designed for use at the point-of-sale and is currently available on the Amazon Appstore and on Google Play.

Currently, the application does not support mobile payments or has the ability to store credit cards or debit cards.

Amazon says users can scan their gift, loyalty and membership cards using the app and then access through barcode, QR code, text or image.

Reports also emerged that the app will come pre-installed on Amazon’s new Fire handset. A new portal has been created to enable users to edit and manage their cards as well as the payment options.

Amazon is hoping to compete with established payment providers like PayPal or Google Wallet in future, as it is planning to allow users to store their actual credit and debit cards in the wallet. The company may also add person-to-person (P2P) payments option.