It looks like Amazon is getting into the digital payments game with a new program called Amazon Cash. While it is certainly similar to other digital payment programs—in that it allows you to make payments online without a credit card—it is different because it is exclusive to Amazon’s flagship site (among a few other things).
Today, the company announced the launching of the Amazon Cash program which will allow Amazon users to, essentially, add cash to their Amazon account balances. Basically, you can pre-pay for your Amazon purchases using cash by popping into a participating physical location and deposit cash into your Amazon account like you would a bank or prepaid debit account.
Apparently, there is a massive community of people who would appreciate a program like this. Previously, adding “cash” to an Amazon account was complicated, requiring you to essentially find a way to purchase an Amazon gift card every time you wanted to pay cash for something online. Researchers say, though, that more than a quarter of all retail customers are “cash customers” so Amazon might be on to something, here.
Adding money to your account is easy—it would have to be for this program to work. There are more than 10,000 participating retailers across the United States. All you have to do is drop into a CVS Pharmacy, D&W Fresh Market, Family Fare, Kum & Go, Speedway, Sheetz, or VG Grocery and add money to your account. Amazon also reports they will continue to add more retail partners every month.
To add money to your account you simply visit one of the participating locations and present your Amazon Cash balance barcode (which you can download to your mobile device at Amazon.com/cash; you can also print it) for scanning, and then simply pay the amount you wish to deposit. You can add anywhere from $15 to $500 with each retailer setting its own individual daily limits.
It is also very important to note that once you deposit money into your Amazon Cash account you cannot pull it back out. It is not a debit account. On the other hand, the very good news is that there are no fees associated with Amazon Cash; so if you are a frequent Amazon shopper you can rest assured that your money is safe and conveniently ready for you to use on your next Amazon.com purchase.