Amazon is making it even easier for customers to pay with cash. Amazon PayCode, already available in 19 countries around the world, launches today in the U.S. and allows customers to choose Amazon PayCode at checkout and then pay for their purchase in cash at one of 15,000 Western Union locations. Items ship once customers pay for their purchase in person at a participating Western Union location. Amazon PayCode will be rolling out to customers over the coming weeks.
Separately, Amazon Cash, which enables customers to load cash into their Amazon Balance for making online Amazon purchases, is now available in over 100,000 cash-loading locations nationwide. Customers in the U.S. who prefer to use cash are now even more able to enjoy Amazon’s vast selection, low prices, and fast, free shipping with no fees.
The Federal Reserve Bank of San Francisco1 has reported that in 2018, 77 percent of payments in the U.S. were made in-person. For these in-person payments, cash accounted for 39 percent of the volume. Now with the launch of Amazon PayCode and expansion of Amazon Cash, customers will have additional options to pay for their Amazon purchases in cash. With over 15,000 eligible locations, 80 percent of Americans live within five miles of a participating Western Union agent location making this a convenient solution for customers paying with cash.
“We’re constantly innovating to improve the shopping experience on behalf of our customers, and are proud to expand Amazon Paycode to customers in the U.S.,” said Ben Volk, Director, Payments at Amazon. “Customers have told us they love the convenience of paying in cash. Together with Western Union, we’re able to offer customers more shopping choices, enabling them to pay for their online purchases in a way that is convenient for them.”
“As one of the world’s largest digital and physical money movers, we’re innovating our service to give customers more access and choice,” said Khalid Fellahi, President, Consumer Money Transfer for Western Union. “We’re embracing the complexity of a world where cash and digital payments are likely to coexist far into the future. We are providing easy solutions for customers who want access to the convenience of online shopping but prefer to pay in-person.”
Amazon PayCode
How It Works – Amazon PayCode enables customers to shop millions of products on Amazon and pay for their orders in person, in cash, with no additional fees. At checkout, customers simply select the “Amazon PayCode” payment option to receive an Amazon PayCode (QR code and a number) which is referenced when paying in cash at more than 15,000 Western Union agent locations aacross the U.S. Customers have 24-hours after the order is placed to provide payment at a location. In the event of a return, customers will receive a cash refund at a participating Western Union agent location for orders they placed using Amazon PayCode once the return is received.
Amazon Cash
How It Works – Amazon Cash allows customers to visit participating locations to load between $5 and $500 in cash to their Amazon Balance, which they can then use to make future purchases in Amazon’s online store. Customers start by verifying their mobile phone number and identifying a participating location at amazon.com/amazoncash. Once at a participating location, the customer can add cash to their account by simply presenting their mobile phone number. Funds are available immediately and there are no additional fees.
1 Findings from the Diary of Consumer Payment Choice (2018). Federal Reserve Bank of San Francisco.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
