Amazon Reinvents Cash as a Payment Option
November 1, 2019
Amazon has launched Amazon PayCode, making it easier for its US customers to pay cash for items bought online. By choosing Amazon PayCode the buyer can go to one of the 15,000 Western Union locations and pay cash.
Another initiative, Amazon Cash, lets customers load their Amazon balance with cash which they can then use when shopping online. There are currently 100,000 locations in the US where customers can load their cash.
Additionally, US customers who do this can shop on Amazon with no fees and Amazon Go Stores will also accept cash.
The company has responded to customers who have said that they like the convenience of using cash and Amazon has acknowledged that cash is likely to exist alongside digital payment methods long into the future.
This has been demonstrated by other companies too with Uber customers opting to pay cash to the tune of over $6billion in 2018 representing around 13% of Uber’s total income. Uber was a bit of a late player in the cash payment game but now allows it in multiple locations.
Get on the Cash Train
Other companies are catching on with Barzahlen, PiPiT, Cashly and others enabling customers to pay by cash when shopping online.
Cash is often accused of fueling a dark economy and is linked to criminal activities however these links have no been established. It may be that cash is here to stay and the focus must be on fighting crime rather than seeking to criminalize cash.