Amazon has announced the launch of a new service – Amazon Cash, which will allow customers to add cash to their Amazon.com balance through barcode scanning at designated outlets. Currently being launched in the US market, the service will allow users to add any amount between $15 and $500 in a single transaction to their Amazon.com balance.
This service is targeted towards people who are not part of the banking system, have cash income or don’t use plastic money. One of the key advantages of this service is that it updates the customers’ account almost in real-time and does not charge any extra fee for it. Customers can either get the barcode scanned on their smartphones, or use a printout of the barcode to get the funds added. This is particularly helpful for people who do not use a smartphone or have cracked the screen of their smartphone. In order to add funds, customers will need to get their barcode scanned by a participating retailer who will then add the requested amount and the customers can pay the retailer in cash.
Currently, Amazon has associated with retail chains like CVS Pharmacy, Speedway, Sheetz, Kum & Go, D&W Fresh Market, Family Fare Supermarkets, and VG’s Grocery and is looking to grow the network.