Amazon Payments has launched Amazon PayPhrase, an easy-to-remember shortcut for paying on Amazon.com and all websites accepting Checkout by Amazon. With Amazon PayPhrase, online shoppers choose their own customized phrase, such as "Knick Knack," and set up their preferred payment and shipping methods for that phrase. They can then enter that phrase along with a PIN number to quickly preview their order and complete their purchase.

PayPhrase allows Amazon.com customers to quickly checkout across the web, but without having to share sensitive payment information with multiple websites. Entering the PayPhrase brings up a secure popup window, so shoppers are not taken away from the merchant's website. If the customer is satisfied with their order, they enter their PIN to complete the order. Consumers can set up parental controls so they can set up a PayPhrase for teens.

There can only be one unique PayPhrase, so Amazon.com shoppers may be scrambling on Thursday to stake out their claim to such phrases as "Joe Work" or "Jake Allowance." The information associated with a user's PayPhrase (such as the user's mailing address) may not be changed simply by knowing the phrase and PIN. Customers receive an email notification of orders, and items are shipped to the address they've indicated when setting up their PayPhrase.

Amazon PayPhrase also makes it easy for parents to set up an online allowance and monitor their child's purchases. By creating a PayPhrase for their teenager or student away at college, parents can set monthly spending limits and monitor or approve purchases. With PayPhrase, parents have the flexibility to preview every order placed, including the ability to approve or decline each order via email or mobile phone text alerts.

A spokesperson said Amazon PayPhrase is not currently available for mobile, but earlier this month Amazon Payments launched Amazon Mobile Payments Service for developers and merchants to extend Amazon "1-Click" checkout to mobile devices (link).

All websites accepting Checkout by Amazon, including DKNY, Jockey, Patagonia, Buy.com, J&R Electronics, and Car Toys, will be offering PayPhrase as a checkout option. Amazon.com customers can create their PayPhrase and start using it by visiting the Amazon PayPhrase website.