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Amazon Cash — Use cash to shop on Amazon
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There are millions who will use this. Many people don't like putting their credit card information online.
@delwilliams Interesting as it was Amazon was one of the first companies that got us to trust using our credit cards online.
Fantastic way to reach the nearly 10% of "unbanked" American households, and I imagine it’s an even larger percentage worldwide.
Amazon has rolled this out in Canada at post offices and convenience stores. They seem to be targeting places where people are less likely to have bank accounts. I wish they would add Whole Foods to the list of locations so I could take advantage of the bonus offers. Granted, I'm not even sure if Whole Foods stores accept cash here. Everyone just taps their card.
I think it is for use in developing and primarily cardless economies like India, or Middle East where Amazon just acquired a local biggest eCommerce platfor souq.com. Souq.com has more than 70 percent transactions via Cash On Delivery.
This is very interesting. Possibly the infrastructure is built so it can be rolled out to India soon and while regulatory loopholes are being jumped through, they decided to launch a version in the US.
@kay0stheory I disagree, it 100% applies to me, ironically because I almost never use cash...here's why...
Like many people I know, I use a bank that is 100% online (Ally now, Charles Schwab prior). It's been a great experience with 1 caveat, I can't deposit cash easily. The times I actually HAVE cash to deposit isn't that frequent, but when it happens, it's a big annoyance. Take for instance, the once every 1-2 months Craigslist transaction. Selling an old phone for a few hundred bucks, etc..
Currently, my wife and I basically stash that cash near the front door and have to constantly remind ourselves to use the cash first to get rid of it. Gets really annoying, because ironically the more you use cash, the more you end up physically having because of the constant bill splitting.
Now with this, I can essentially make a "deposit" to get rid of any cash into Amazon, which we have a regular spendature on a weekly basis.
To me, this is freaking awesome.
@kay0stheory don't think I ever said "most". I was merely presenting a real world, and common , use case. Also both Schwab and Ally don't allow deposits at 3rd party atms, and neither of those banks have their own ATM's. AFAIK, no online-only bank has their own 1st-party network of ATM's which means you can't make cash deposits. You always have to wire or physically send in a money order. Both of which are huge hassles.
@kay0stheory If grandma and grandpa uses the internet then surely grandma and grandpa use credit cards? I may be wrong and I'm sure Amazon know a lot more than me but I think having a credit card comes before having the Internet.
Why does Amazon reinvent paper money instead of using Bitcoin or Ether for example? 🤔
For those that don't know how to get 5% cashback from Amazon: Prime Rewards Card
We already have this in India!
COD = Cash on delivery! Almost all ecom have this option!
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