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Making online shopping accessible to all

Categories : Innovation contributes to the efficiency of cash
August 28, 2017
Tags : Cash, Consumers, Online payments, Unbanked, Underbanked, United Kingdom
Amazon has now expanded its cash-acceptance service to the UK allowing the unbanked and the underbanked to make online purchases without a credit card.
Communication Team / Equipo de Comunicación

Having acknowledged that an important chunk of the UK population is either unbanked or underbanked (with no access to a bank account for the former and to credit cards for the latter), Amazon is now accepting cash for online purchases via its Amazon Top Up service.

After receiving an automatically generated barcode, consumers can go to any UK PayPoint (which includes convenience stores and gas stations across the country), scan the barcode and pay in cash to upload money to their Amazon account.

This service has already been made available by Amazon in the US this past April for the 27% of Americans that are unbanked, and is known as Amazon Cash.

According to the UK’s Financial Conduct Authority, there are 1.5 million people that are unbanked in the UK, but the number of underbanked is estimated as being much higher.

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