Amazon

Amazon Joins The Two-Factor Authentication Bandwagon

Amazon users now have access to a new security feature to keep their accounts and payment information safe while shopping with the eCommerce giant.

The company has finally joined many other online sites and services, like PayPal, Google and Apple, by offering its customers the ability to turn on two-factor authentication to add an extra layer of security to their accounts.

While Amazon made no official announcement that it was enabling the feature, it is pretty straightforward for users to enable the security measure by accessing their “advanced account settings” after logging into their Amazon account, Fortune reported yesterday (Nov. 19).

Digital consumers have made it clear that trust weighs heavy in their decisions of where to shop online.

At least that’s what 2,100 consumers just said when asked what characteristic is critical to their online shopping experience, as part of PYMNTS’ Innovation And The Digital Shopper study.

Earlier this year, Patrick Gauthier, Amazon’s vice president of external payments, told MPD CEO Karen Webster that trust isn’t just about product, selection and experience; it’s about how easy it is for consumers to actually close the loop and check out.

“The check-in is as important as the checkout part, because it’s the opportunity for the consumer to identify themselves and to share by their own choice information about who they are with the merchant. When [retailers] make it easy for a consumer to tell who they are to a merchant, [they] are being a trust broker,” Gauthier said.

By ensuring its users can utilize two-factor authentication to better protect their accounts, Amazon is continuing to build up on the reputation it has as a safe place to shop.

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The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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