Amazon Cash

#1

Post by lxm » Mon, Apr 03, 2017, 3:37 PM UTC

Amazon Cash
amazon.com

Re: Amazon Cash

#2

Post by thinkling » Mon, Apr 03, 2017, 4:47 PM UTC

Posted just earlier:

https://news.ycombinator.com/item?id=14023293

Re: Amazon Cash

#3

Post by huangc10 » Mon, Apr 03, 2017, 4:53 PM UTC

> Choose to receive your barcode via text message or print-at-home. Bring this barcode into any participating store and show it to the cashier to add money to your Amazon Balance.

As a customer I don't really understand this concept. Why do I bring my barcode to one of the stores (CVS, etc.) to reload my Amazon Balance...?

Re: Amazon Cash

#4

Post by scosman » Mon, Apr 03, 2017, 4:56 PM UTC

huangc10 wrote: post #3

> Choose to receive your barcode via text message or print-at-home. Bring this barcode into any participating store and show it to the cashier to add money to your Amazon Balance. As a customer I don't really understand this concept. Why do I bring my barcode to one of the stores (CVS, etc.) to reload my Amazon Balance...?

So you can add cash to your amazon account instead of using a credit card or bank account. Some people don't have credit cards or banks accounts.

Re: Amazon Cash

#5

Post by sokoloff » Mon, Apr 03, 2017, 4:56 PM UTC

huangc10 wrote: post #3

> Choose to receive your barcode via text message or print-at-home. Bring this barcode into any participating store and show it to the cashier to add money to your Amazon Balance. As a customer I don't really understand this concept. Why do I bring my barcode to one of the stores (CVS, etc.) to reload my Amazon Balance...?

The use case is that you have cash (literally folding money) in your hand and the store is the place to turn that physical cash into electronic credit in your Amazon Balance.

Re: Amazon Cash

#6

Post by kt9 » Mon, Apr 03, 2017, 4:57 PM UTC

I think the idea here is for amazon to allow customers to add cash balances to their amazon account without amazon incurring the 2.9% credit card transaction fee.

Re: Amazon Cash

#7

Post by chillydawg » Mon, Apr 03, 2017, 5:00 PM UTC

kt9 wrote: post #6

I think the idea here is for amazon to allow customers to add cash balances to their amazon account without amazon incurring the 2.9% credit card transaction fee.

I think it's more about getting to the segment of customers who do not have credit cards. There's no way amazon is paying the same fee as anyone else in the world for credit card fees, they're the single biggest e-commerce site and have almost certainly negotiated some substantial deals.

Re: Amazon Cash

#8

Post by creaghpatr » Mon, Apr 03, 2017, 5:00 PM UTC

kt9 wrote: post #6

I think the idea here is for amazon to allow customers to add cash balances to their amazon account without amazon incurring the 2.9% credit card transaction fee.

I'm pretty sure this is behind the Chick-fil-a app's in-app cash as well.

I find value in it because I use the app a lot (there's one next to my office) and because they give you a free sandwich every 10-12 purchases. I'm guessing that free sandwich budget comes from the savings of transaction fees.

Re: Amazon Cash

#9

Post by busterarm » Mon, Apr 03, 2017, 5:02 PM UTC

The typical view of Amazon is that they're putting B&M businesses out of it.

What's the value to these stores in doing this? I feel like I'm missing something obvious here.

Re: Amazon Cash

#10

Post by wscott » Mon, Apr 03, 2017, 5:03 PM UTC

This is another round of the "Amazon vs Walmart" war. People without banks or credit cards currently shop at Walmart. Now it is much easier for them to shop at Amazon.