Amazon is now one of the leading payment services out there. Amazon keeps improving itself to make it much easier for users to make online purchases. Normally, to purchase items and goods using your Amazon accounts, you need to use your credit or debit card. However, things are about to change this year.
Amazon today rolled out Amazon Cash, a new service that allows customers to shop online without even the need for a credit or debit card. Basically, with Amazon Cash, customers can easily transfer cash (between $15 and $500) to their Amazon accounts, which can be used to buy things from retailers.
According to Amazon, Amazon Cash will be available at various major retailers in the US such as CVS Pharmacy, Speedway, Sheetz and Kum & Go. In reality, this is not the first time that we have seen a payment service that allows customers to shop at retailers without using a credit or debit card. A service from PayPal called My Cash Card lets customers add cash to their PayPal account, which can then be used to buy things. Besides, Walmart also offers its own payment service for unbanked customers in the US. Therefore, Amazon Cash will put Amazon in an intense fight against PayPal and Walmart.
However, Amazon says that the company is not selling its Gift Card for Amazon Cash customers. This means that customers need to head to Amazon’s website to access their Amazon Cash barcode.
Amazon Cash targets almost 7 percent of people who don’t have access to debit or credit cards in the US and make sure that transactions run smoothly even when you don’t have your credit card by your side.
Online mobile payment has been Amazon’s focus in recent years. Amazon Pay has gained its popularity in the market and serves as Amazon’s strategic plan to compete with other online payment services like Apple Pay or Android Pay. Basically, Amazon Pay allows users to purchase goods and services from the desktop and mobile apps.
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