Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

'Amazon Cash' Lets Cardless Users Add Funds to Their Accounts With App-Based Cash Transfers

MacRumors

MacRumors

macrumors bot
Original poster
Apr 12, 2001
68,700
39,612



Amazon today announced a new way for its users to add funds to their Amazon accounts, called Amazon Cash. By visiting a participating retailer, Amazon users will be able to show a barcode to a cashier, choose an amount between $15 and $500, and pay the amount in cash to see it transferred digitally and able to be spent on Amazon.com.

As TechCrunch reported, Amazon Cash is aimed at "cash customers" who don't shop online as consistently as everyone else, including people who are paid in cash, who don't have a bank account or debit card, and who don't use credit cards. The entire process doesn't require any sort of fee to be paid by the user.

amazon-cash-me-outside.jpg
This "cash customer" (the unbanked or "underbanked") accounts for around 27 percent of consumers, said a 2015 report from the FDIC.

While they may have money to spend online at times, there isn't an easy way to do so. Until today, they would have to buy an Amazon Gift Card in a designated amount or add cash to prepaid payment cards, to be used at checkout.

More broadly, the service could appeal to anyone who just wants to deposit some cash in their Amazon.com account, without hassle.
Click to expand...
These customers will be able to use the Amazon iOS and Android app to bring up their unique Amazon Cash barcode, which will be reused any time they want to add more money to their account. After telling the cashier how much they want added and scanning the barcode, the customer pays at the register with cash and the amount instantly appears in their Amazon account. Confirmation of the money's arrival will be sent to users via email, text, or push notification.

Amazon Cash will even let users print out their unique barcode at home and bring it into the store in lieu of using a smartphone. Those who have a smartphone with a cracked screen are also recommended to print out the barcode instead of using their phone.

Participating U.S. stores at launch include: CVS Pharmacy, Speedway, Kum & Go, D&W Fresh Market, Sheetz, Family Fare Supermarkets, and VG's Grocery, with more coming soon. The service is launching now across the U.S.

Article Link: 'Amazon Cash' Lets Cardless Users Add Funds to Their Accounts With App-Based Cash Transfers
 
Article Link
https://www.macrumors.com/2017/04/03/amazon-cash-app-cash-transfers/
As an Amazon Associate, MacRumors earns a commission from qualifying purchases made through links in this post.
But I didn't think was new. I have had an Amazon Cash card in my Apple Wallet for awhile now.
 
I don't get it. What makes this different than just buying an Amazon gift card with cash, then adding the gift card to your account?
 
  • Like
Reactions: tedson
LoadStar said:
I don't get it. What makes this different than just buying an Amazon gift card with cash, then adding the gift card to your account?
Click to expand...

1. It's available in denominations other than $15, $25, $50, or $100. Important to these cash-only customers where a little bit matters.
2. It's added immediately so there's no risk of loss between buying and redeeming.
 
  • Like
Reactions: S G, LoadStar and ArtOfWarfare
I suppose for a very few people this might be useful. Always nice to have options I suppose! But I don't think I'll ever be using this feature.
 
Return Zero said:
I suppose for a very few people this might be useful. Always nice to have options I suppose! But I don't think I'll ever be using this feature.
Click to expand...
I can imagine this would be big in developing countries, where people don't yet keep their money in bank accounts, but they have cell phones.

Essentially, Amazon is becoming a sort of bank for them... except the only way you can withdraw the money is by getting a product.
 
  • Like
Reactions: Return Zero, S G and Apple blogger
ArtOfWarfare said:
I can imagine this would be big in developing countries, where people don't yet keep their money in bank accounts, but they have cell phones.
Click to expand...

Have you gone to Costco or the electronics section of Wal-Mart lately? Notice how many people pay in cash?
 
It's similar to "Amazon pay" we have in India. So what's Amazon pay is that it's a wallet, where we can add money I guess of any denomination from a credit card. We can use it later on purchases. We have offers that offer us. Cash back as Amazon pay balance instead of a discount. The refunds also are credited to the balance.
Amazon cash takes a step further. With this I think I can opt for this in hard cash, and not just credit card correct?
This has got to expand in other countries
 
ArtOfWarfare said:
I can imagine this would be big in developing countries, where people don't yet keep their money in bank accounts, but they have cell phones.

Essentially, Amazon is becoming a sort of bank for them... except the only way you can withdraw the money is by getting a product.
Click to expand...

This would also be useful kids or teens without their own credit/debit cards or if they wanted to buy things behind their parents' backs.
 
  • Like
Reactions: Morod
what does the participating stores get out of it?
Plus Amazon is a competitor to all of them
 
konqerror said:
Have you gone to Costco or the electronics section of Wal-Mart lately? Notice how many people pay in cash?
Click to expand...

I notice how Walmart only has to staff ~3 people to manage ~12 checkouts at a time, because of how heavily they use self checkout. That means there's rarely any line, and so I don't notice or care how other people are paying.

Same deal at BJs.

It's odd that self checkouts took so long to become a thing... vending machines and gas pumps you could pay at have existed for decades. Why did it take so long for stores to start letting people check themselves out?
 
ArtOfWarfare said:
I notice how Walmart only has to staff ~3 people to manage ~12 checkouts at a time, because of how heavily they use self checkout. That means there's rarely any line, and so I don't notice or care how other people are paying.

Same deal at BJs.

It's odd that self checkouts took so long to become a thing... vending machines and gas pumps you could pay at have existed for decades. Why did it take so long for stores to start letting people check themselves out?
Click to expand...

First, there's no self checkout at the electronics section.

Second, you completely missed the point is that there's a large market of people without card payments (mostly illegal immigrants) that Costco and Wal-Mart rely on in the United States.
 
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back