Amazon this morning announced the launch of Amazon Cash, a new service that allows consumers to add cash to their Amazon.com balance by showing a barcode at..
Amazon this morning announced the launch of Amazon Cash , a new service that allows consumers to add cash to their Amazon.com balance by showing a barcode at a participating retailer, then having the cash applied immediately to their online Amazon account. The service will support adding any amount between $15 and $500 in a single transaction, Amazon says.
Amazon Cash will be available at brick-and-mortar retailers across the U. S., including CVS Pharmacy, Speedway, Sheetz, Kum & Go, D&W Fresh Market, Family Fare Supermarkets, and VG’s Grocery. Other stores will be added in the future.
The service is not all that different from a similar effort by PayPal, whose PayPal My Cash Card lets you add funds to your online PayPal account, using cash from your wallet. It also has a barcode-only service , powered by Green Dot.
Like PayPal, Amazon Cash is also meant to appeal to the same general demographic who may not yet be shopping online – those who get paid in cash, don’t have a bank account or debit card, and who don’t use credit cards. This “cash customer” (the unbanked or “underbanked) accounts for around 27 percent of consumers, said a 2015 report from the FDIC.
