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Amazon.com is promoting the new payment method—Amazon.com PayPhrase which is an easy-to-remember shortcut to shipping and payment information in your Amazon.com account. Use it for Express Checkout at Amazon.com and across the web. Many online merchants are now accepting Amazon.com PayPhrase as payment method.

You can easily learn what PayPhrase is at http://www.amazon.com/gp/payphrase/claim/whats-this.html.

Luckily, now we have cashback for shopping Amazon.com and other featured merchants at Amazon.com via PayPhrase.

Following is the details about this promotion which can be found at here.

Step 1: Create your PayPhrase

PayPhrase is an easy-to-remember shortcut to shipping and payment information in your Amazon.com account. Use it for Express Checkout at Amazon.com and across the web.

If you already have a PayPhrase, go straight to Step 2

Step 2: Shop with your PayPhrase

Look for the CashBack with PayPhrase buttons when you checkout at Amazon.com or participating merchant sites. Place your order using PayPhrase wherever you see the CashBack with PayPhrase buttons. Earn 5% CashBack at Amazon.com and 10% CashBack at merchants across the web.

Orders must ship by December 31, 2009 for a purchase to be deemed eligible for the CashBack Rewards program.

At Amazon.com

At Merchants Across the Web

Step 3: Get CashBack

After each eligible purchase you make, we’ll send you an e-mail to confirm your order. You will also receive an e-mail that includes your PayPhrase CashBack amount, and instructions on how to claim your CashBack Reward, by January 31, 2010.

To claim your CashBack Reward, you will need to have an Amazon Payments account. You can create your account now or when you receive the CashBack Rewards e-mail. Instructions will be included in the e-mail from Amazon Payments.

And this link tells you have to get 10% cashback from Buy.com via PayPhrase.

And this link tells you how to get 10% cashback from JR.com via PayPhrase.