Even though the world is advancing, there are still a lot of people who don’t use the modern way of payment via credit, debit or other bank cards. So what should these people do? Do they not have any right to avail all the discounts and to do online shopping? Well Amazon being as loyal as ever came up with a solution for these people with a new service, Amazon Cash.
Amazon Cash and the bar code solution
Customers using this service will simply have to display a bar code at a participating retailer and deposit cash directly to their Amazon account. Before this anyone who wished to perform an Amazon transaction without a bank card was forced to buy gift cards or prepaid debit cards. The Amazon Cash bar code can be generated by visiting the Amazon Cash site and can be accessed through various sources like Amazon’s website, the mobile app and can even be saved to the Android home screen or the iOS Wallet. If you don’t have a smart phone then don’t worry, you can even get a printout of the bar code and bring that to stores.
The Amazon Cash service will be available at various retailers including CVS Pharmacy, Speedway, Sheetz, Kum & Go, D&W Fresh Market, Family Fare Supermarkets, and VG's Grocery. More retailers will be added to this list eventually. Customers can deposit amounts between $15 and $500 into their accounts and this deposit can then be used a credit on Amazon, similar to the gift card.
This is an amazing step by the company as it will be targeting that segment of customers who don’t use Amazon just because of the bank card issue. According to a 2015 FDIC report, 7% of the people don’t use bank cards and 24% are considered ‘underbanked’. This new service will allow Amazon to provide good competition to Walmart and PayPal that provide similar services to unbanked customers.