Amazon boosts some Prime membership fees by 20 percent

- Amazon is raising the price of its Prime membership monthly plan by nearly 20 percent. The fee of $99 for an annual membership will not change, the company said Friday. 

The online retailer had added the monthly payment option about two years ago as a way to hook shoppers -- especially during the holiday season -- who wanted faster free shipping, but didn't want to commit to an annual fee. The Seattle-based company does not disclose how many Prime members it has.

Besides free two-day shipping, Prime members get other perks, such as access to Amazon's video and music streaming services.  

Starting Friday, new monthly members will pay $12.99 a month, up from $10.99. Qualifying college students will pay $6.49 a month, up from $5.49. Inc. said existing monthly members will start paying the higher fees next month. 

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