Amazon Makes It Easier To Shop Online With Amazon Cash
Amazon just launched its new service, Amazon Cash, this morning, making it even more easier for consumers to shop on Amazon.com. With this service users are able to easily add cash to their balance on e-commerce giants portal, by simply showing a barcode at participating retailers brick and mortar stores, to have their balances instantly updated.
The service allows for users to add anywhere from $15 to $500 through a single transaction. With the service only launching in the US as of this time, some of the participating retailers include CVS Pharmacy, Speedway, Kum & Go, Family Fare Supermarkets & VG’s Grocery.
While not very different from PayPal’s My Cash Card, this is a big move from the e-commerce giant which will further help it to secure itself as the single platform for any purchase requirements of its massive user base.
Through this service Amazon, it seems, is looking to grasp the demographic market that is still reluctant or is yet to enter the e-commerce space for their shopping needs. As per a report published by the FDIC 27% of the consumers in 2015 were reliant on cash for all their needs. These customers have been categorized as those without bank accounts, debit cards, or credit cards.
With this service Amazon has now identified another source of revenue for their lines of businesses.
Important to note though that Amazon isn’t selling or looking to sell “Amazon Cash”-branded Gift Cards through these brick and mortar stores. Instead users are being encouraged to visit Amazon.com/cash on web or mobile, or instead search for “amazon cash” on their Amazon mobile app to access their unique ‘Amazon Cash barcode’.
That same barcode can then be reused at any given time the customer is looking to add additional funds to their account. The functionality also allows for it to be added on the users iOS wallets or as a shortcut on any android device.
The customer is required to simply present the above mentioned barcode to any cashier, informing them of the value they are looking to transfer through a payment in cash, which then gets immediately transferred over to the users Amazon account, for use immediately on their site.
Content Source: TechCrunch