What is Amazon Cash?
Amazon’s newest venture into making the purchasing process as easy as possible for its customers is called Amazon Cash. This will allow customers to keep cash in their Amazon accounts, similar to PayPal. Customers who decide to utilize Amazon Cash will be issued a barcode that they can print, access via SMS, Amazon’s mobile app, or through its website which can be presented at participating stores in order to add between $15 and $500 in cash to their account.
This service makes it so customers no longer require a debit card, credit card, or gift card to make purchases on their site. This is beneficial for people who don’t have debit cards or credit cards and have to rely on cash. It is important to consider those without access to these cards because, in many of the countries that Amazon is expanding to worldwide, large portions of the population don’t even have bank accounts and have to rely on cash.
Amazon expects this move to increase their sales by 68-percent, as their consumer base worldwide will be able to grow. Amazon is simply joining the trend of a mobile wallet that many companies are utilizing as well. Ultimately, the Amazon Cash program may mean increased domestic and international business for Amazon sellers. If you have questions about becoming an Amazon seller, you should consult with an experienced accountant who serves clients in this field.
If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation.