The company unveils Amazon Cash as a new way to add money to an Amazon account, and potentially for the e-commerce giant to target more Walmart shoppers.
At an Amazon fulfillment center in New Jersey.
To keep growing, Amazon appears to be focusing on some of Walmart’s faithful customers.
The e-commerce giant on Monday introduced a service called Amazon Cash , which lets people instantly add money to their Amazon accounts when visiting more than 10,000 retail locations, including CVS and Sheetz.
While this concept may not be as futuristic as Amazon’s other ideas, such as delivery drones, Amazon Cash could help the company reach a broader audience. Seven percent of US households don’t have bank accounts, according to an annual survey by the Federal Deposit Insurance Corporation.
Creating a service like Amazon Cash could help people underserved by banks or without credit or debit cards to shop online. Amazon gift cards are already available in stores, but — using an Amazon Cash barcode for your account — the company made it simpler and faster to add money.
