Amazon Launches Amazon Cash, a Way To Shop Its Site Without a Bank Card (techcrunch.com) 35
An anonymous reader quotes a report from TechCrunch: Amazon this morning announced the launch of Amazon Cash, a new service that allows consumers to add cash to their Amazon.com balance by showing a barcode at a participating retailer, then having the cash applied immediately to their online Amazon account. The service will support adding any amount between $15 and $500 in a single transaction, Amazon says. Amazon Cash will be available at brick-and-mortar retailers across the U.S., including CVS Pharmacy, Speedway, Sheetz, Kum & Go, D&W Fresh Market, Family Fare Supermarkets, and VG's Grocery. Other stores will be added in the future. The advantage to Amazon Cash is that, as soon as you checkout at the register, the funds are available in the customer's Amazon account. There are also no fees -- something that can't be said of all the prepaid cards on the market. However, Amazon isn't selling "Amazon Cash"-branded Gift Cards at stores -- instead, customers visit Amazon.com/cash from web or mobile, or search for "amazon cash" in the Amazon mobile app to access their Amazon Cash barcode. They can also navigate to "Manage Gift Card" balance to find the Amazon Cash barcode, as it's effectively connected Amazon's gift card functionality. That same barcode can be reused any time the customer wants to add more cash to their Amazon account. It can also be added to your Wallet app on iOS or as a homescreen shortcut on Android.
The Allure of Cash in society today (Score:4, Insightful)
Is anonymity, not ubiquity.
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Because something that is acceptable today may be considered unsavoury tomorrow.
Because a corrupt government (or even a single person in power) may consider your actions unsavoury for their own personal reasons.
Because your constitution gives you the right to do many unsavoury things. And for a good reason.
Seems anonymous to me (Score:2)
From the standpoint of the person providing the cash, it seems anonymous since you can go into a CVS and load up the account with more cash... does not have to be your account. Don't know if there's a way to load the account with cash without being able to also use it for purchases though, which would be the issue that would break that scenario.
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Is anonymity, not ubiquity.
I'd say both combined with it's low cost of operation for merchants When 30p of that £2 coffee is required just to pay for it, I'd rather use cash.
Also ease of use and relative security. If I lose cash, I only lose the face value of the notes, if my card is compromised, I could stand to lose a lot more. Given I'm not a careless oaf of an idiot, I don't lose cash on a regular basis... or ever really.
Beyond this, you cant shove plastic down a strippers G-string.
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Good luck either way. Anything that functions as a currency is a currency in the eyes of the IRS (when they want it to be). Only one entity has the ability to issue currency in this country. Getting in the way of the Government and its almighty dollar is the worst crime possible in this country.
The worst Amazon could do is implement a lock in for anyone stupid to buy tons of Amazon dollars, like arcade tokens or Itchy & Scratchy dollars. If Amazon wanted to actually profit off of their transactions
So....gift card? (Score:5, Insightful)
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http://lifehacker.com/reminder-gift-cards-are-tax-free-so-make-sure-you-don-1668494857 [lifehacker.com]
https://trustfile.avalara.com/blog/should-i-tax-customers-for-gift-cards/ [avalara.com]
https://www.accuratetax.com/blog/sales-tax-gift-certificates/ [accuratetax.com]
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Based only on this description it sounds a lot like a new featured added to the existing gift card functionality already available. So it's not "amazon cash" it's "amazon adds bar code to gift cards". So effectively this is "native content" or maybe just really poorly written. Not sure which.
To me it sounds like yet another payment system adding complexity competing many other payment systems adding complexity. PayPal did it right, they came out with a card in the standard bank card format (ISO/IEC 7810, ID-1). Apple, Google and whoever else are doing it wrong because they are more difficult to use and in most cases, are simply wrappers for a banking product that comes in a convent, ubiquitously accepted, standard ISO format.
Reaching the "unbanked" (Score:4, Insightful)
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An easy way to reach the large # of Americans that don't actually have bank accounts or credit. Smart.
Seriously, how many Americans are "unbanked".
That seems like an odd concept in the UK and other civilised countries where only those few repeatedly convicted of various kinds of banking and credit fraud are unable to get a free, basic account. Hell, even most of them can get one with police oversight.
Besides, given how Amazon currently works, how will the "unbanked" possibly deposit money into an Amazon account. Amazon requires me to provide a card for most purchases, I imagine this service would eith
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Seriously, how many Americans are "unbanked".
We have enough illiterate morons to fill the grand canyon.
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Seriously, how many Americans are "unbanked".
We have enough illiterate morons to fill the grand canyon.
Despite the well spoken man on the BBC, the UK has the same problem (OK smaller population, but we could still fill the Thames twice over with idiots), there are plenty of English who couldn't speak the Queens English to save their lives. Also Australia has the same issue. If there isn't a basic account available for almost everyone, it indicates a problem with the banking system. Pensioners and retirees still need a bank account and they tend to be the most technologically illiterate (and still do most of
Literally who? (Score:2)
Amazon Cash will be available at brick-and-mortar retailers across the U.S., including CVS Pharmacy, Speedway, Sheetz, Kum & Go, D&W Fresh Market, Family Fare Supermarkets, and VG's Grocery.
Wow, out of all of those, only one exists here in Texas, and that's only because CVS bought out Eckerd a while back. I've barely heard of Sheetz (only enough to have already had a giggle at the silly name) and never heard of any of the others. Way to "across the U.S.", guys. Not that I want to use this anyhow.
credit card costs (Score:2)
unless they waive the ~2.5% credit card charge for doing this, i don't see the point.
Not cash (Score:4, Insightful)
Well it's not cash then, it's credit.
If it were cash, having bought it at a store it would not be registered to your account until you do something to pay it in - and so you could transfer it to a third party and thence onwards into general circulation. If you can't do that, it's not cash, it's credit.
brazilian boletos (Score:1)
in brazil you have the option to create a `boleto` (a barcoded invoice) for your purchase. Its only approved after you pay that boleto in your bank, lottery house, or supermarket. Its handy for everybody, those with our without credit cards.