B2B Payments

Amazon Business Expands To Canada

Amazon Business Expands To Canada

Amazon is expanding Amazon Business and Business Prime for its Canadian business customers, the eCommerce conglomerate announced on Tuesday (Oct. 29).

Targeting small and medium-sized businesses, Amazon Business enables companies to procure goods online, while giving B2B sellers a new platform upon which they can reach new customers – not only in Canada, but also in other markets where Amazon Business is available. The platform also supports tax exemption for qualified purchases.

Amazon Prime, meanwhile, connects business customers to free delivery for users on their business account, as well as a range of B2B services including analytics and procurement controls.

"We're very excited to empower Canadian business customers to simplify their procurement process so they can focus on what's most important to them," said Amazon Business Vice President Alexandre Gagnon in a statement. "Whether for hospitals, educational institutions, large organizations, government agencies, nonprofits, restaurants, research facilities or sole proprietors, Amazon Business is designed to meet unique and complex procurement needs in an experience familiar to anyone who looks to Amazon to find sharp pricing, broad selection and convenient delivery."

Canada adds to Amazon's growing list of markets in which Amazon Business is available, which includes the U.S., Germany, U.K., France, Italy, Spain, Japan and India. According to Amazon's announcement, Amazon Business manages more than $10 billion in sales every year.

Last year, Amazon revealed that its B2B operations were growing more quickly than its consumer business, noting that it took just one year for Amazon Business to reach $1 billion in annual sales.

Earlier this year, Amazon announced a collaboration with Mastercard for joint business customers, connecting Mastercard commercial cardholders to analytics and insights into purchases made on Amazon Business. For middle-market and larger corporations, Mastercard will provide an overview of products procured on Amazon Business, including price and tax information, allowing for auditing and streamlined expense management.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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