Former Amazon Worldwide director’s startup iPayYou brings bitcoin to Amazon

Seattle-based iPayYou‘s new service Amazon Direct marks a new way for customers to use bitcoin on Amazon, a former Amazon executive who launched the company believes.

Amazon Direct allows users to transfer any dollar amount of bitcoin from an existing wallet on iPayYou to Amazon via a new tab. Once the destination Amazon account is specified, users can change their bitcoin on iPayYou to dollars on Amazon in seconds.

CEO Gene Kavner

CEO Gene Kavner

“During my time as an executive at Amazon, we closely studied the friction points and obstacles faced by shoppers, including and especially with payments,” iPayYou founder and CEO Gene Kavner said. “Amazon Direct is revolutionizing the way consumers are able to spend their bitcoin by granting them access to more than 100 million products at the world’s largest store.”

The achievement follows iPayYou’s gift card integration which allows users to instantly purchase original gift cards with bitcoin from retailers including Amazon, Starbucks, Best Buy and iTunes. Users can cancel transactions and send payments via email and Twitter without requiring the recipient to have an existing account or bitcoin wallet.

“We want bitcoin to be the everyday default currency,” My. Kavner said. “The only way for that to come a reality is to provide consumers with practical ways to spend their bitcoin – that is our grand mission.”

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