Amazon's New Cash Option - How To Use and Stores Included

Amazon's New Cash Option - How To Use and Stores Included

In April 2016, PayPal added the ability to deposit cash at CVS, Rite Aid, and 7-Eleven locations via the mobile app for Android and iOS. "An additional 19.9 percent of US households (24.5 million) were underbanked, meaning that the household had a checking or savings account but also obtained financial products and services outside of the banking system". Today, the retailer officially announced Amazon Cash, which lets users add money directly to their Amazon account.

According to a 2016 report from Consumer Intelligence Research Partners, estimates place the number of households with Amazon Prime accounts at 46% of all United States households.

Request a barcode from Amazon that can be delivered to your phone as a text message or opened on a computer for printing. The balance can be added to the account by showing a barcode at one of the participating retailers. The bar code is basically a link between the cashier and your account. Then you can choose to print the barcode just in case you want to carry it around in your pocket or wallet. The customers pays with cash and the balance is immediately added to the account. Customers can deposit money in amounts between $15 and $500 dollars and this will be available for your next purchases. Daily limits also apply and may vary by retailer. After your transaction is done, you would get a receipt from the cashier and your Amazon account balance would be credited instantly! The option is ideal for those who don't have a bank account or are now getting into online shopping.


Amazon.com, Inc. (NASDAQ:AMZN) has created Amazon Cash, which is a new way of paying for products in person. At the moment the following retailers are participating in the program, and many more are being contacted.

Amazon is trying to make it easier for people to shop on its retail site. Walmart's MoneyCard service is already in operation and had been working to expand into Amazon's territory.

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