Amazon has increased the monthly pricing of its Amazon Prime membership by roughly 20 per cent.
The change to the Amazon Prime membership was first spotted by Recode and according to the news site, the fees have been increased to $12.99 from $10.99. The cost of a yearly membership, which is $99, hasnâ€™t been changed.
Amazon started the monthly pricing model less than two years ago as a more flexible way of taking advantage of Primeâ€™s fast shipping and other benefits. Prime members spend considerably more on Amazon than non-Prime members.Â Shares rose 1.5 percent in premarket trading.