Amazon Cash is a new service that allows customers to purchase items from the online retailer using cash. While you can't actually pull out bills from your wallet to make a purchase you can use cash to load up your Amazon account balance. To top up an Amazon account using bills, simply present your Amazon Cash barcode to a cashier at a partner store and then select an amount between $15 and $500.
Amazon Cash is targeted at those who either aren't big online shoppers or who don't have/regularly use credit and debit cards. New ventures like this and the opening of an Amazon retail store in Seattle indicate that the tech giant is increasingly turning to "old school" practices (like cash and brick and mortar stores) in an attempt to stoke growth. Amazon Cash may not get as much publicity as Alexa or its drone delivery services, but it will grant access to a valuable and currently untapped group of shoppers who prefer cash to cards.
Cash-Friendly Online Retailers
Amazon Cash Allows Consumers Without Cards to Shop Online
Trend Themes
1. Cash-based E-commerce - Opportunity to create online marketplaces for cash-based transactions.
2. Alternative Payment Methods - Opportunity to develop services that cater to people without credit/debit cards.
3. Old-school Tech - Opportunity to revive traditional methods in the age of digital technology.
Industry Implications
1. E-commerce - Opportunity to expand reach to new consumers without traditional payment methods.
2. Retail - Opportunity to provide cash-based payment options to consumers for online shopping.
3. Financial Services - Opportunity to develop alternative payment options for people without credit/debit cards.