Amazon targets unbanked with new cash option

Amazon targets unbanked with new cash option

Amazon has launched a service that lets Americans top up their accounts by handing over cash at the physical locations of partner retailers.

To use Amazon Cash, shoppers visit the Amazon site or app and request a barcode that they can either receive via text message or print off.

The shoppers then visit a partner retailer, such as CVS or Speedway, show the barcode to a cashier, hand over between $15 and $500, and have the funds added to their Amazon accounts within seconds.

The free service is aimed at people who may want to shop online but are unbanked and so have limited options beyond cash.

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 03 April, 2017, 20:05Be the first to give this comment the thumbs up 0 likes

Amazon USA has been supporting Gift Cards that can be purchased against cash. To that extent, Amazon Cash is an expansion, rather than commencement, of Amazon't targeting of the unbanked.