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Amazon launches new cash-based online payment system

Wednesday, April 5, 2017 - 12:52 by Simon Crisp

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Consumers who want to shop online in the UK will typically need to provide payment card information to complete a transaction. But not everyone is comfortable with the security of this approach, which is why Amazon has introduced a new way to pay for items which relies on traditional legal tender as its starting point.

Amazon Cash is a platform which lets customers visit physical stores and add money to their Amazon account using notes and coins, rather than a payment card, according to Tech Radar.

This service is initially rolling out in the US but could well make an appearance in Britain in the near future, since the demand for fresh ways to approach safe shopping online is always strong among consumers here.

Retailers simply need to scan a barcode provided to users via their smartphone, or on a print-out, which then allows money to be added to the linked Amazon account in almost any denomination.

Observers have compared this with the act of buying a gift card, although without the inconvenience of having to activate the card separately to unlock the funds on a specific account.

Although payment cards are the primary means of completing online transactions in the UK, other countries in places like Eastern Europe and Asia are more familiar with the idea of using cash to pay for online purchases. This change may not entirely revolutionise the marketplace in the west, but will mean that shoppers have more flexibility when they hit the checkout.

In addition, this is evidence that Amazon is increasingly tying itself to real world stores, hinting at the potential for further integration in the future which would blend the worlds of high street shopping and e-commerce to a greater degree than ever.