amazon-logistics-hubAMAZON has announced the launch of a new hi-tech online payment system in Spain.

The retail giant’s Amazon Pay means the payment and delivery information stored on a customer’s account can be used to complete transactions.

It will reduce the time spent paying for goods online by removing the need to enter multiple passwords when shopping on participating third-party websites.

It’s hoped that the innovation will reduce the chance of shopping cart abandonment and increase sales.

On top of that, it will keep up with customers’ expectations for a speedy and convenient online experience, said Giulio Montemagno, GM Amazon Pay EU.

More than 33 million customers have used Amazon Pay to complete online transactions.