The e-commerce giant on Monday introduced a service called Amazon Cash, which lets people instantly add money to their Amazon accounts when visiting more than 10,000 retail locations, including CVS and Sheetz.


New services like Amazon Cash could pit Amazon more directly against rival Walmart, whose customer base includes lower-income buyers. Walmart already offers a similar service called MoneyCard. Walmart, meanwhile, has been working to expand into Amazon's territory with a renewed push into e-commerce and its multibillion-dollar acquisition of online store Jet.com.


People underserved by banks look to be gaining more attention from the tech industry, perhaps as companies see opportunities to grow their audiences. PayPal has made helping people without bank accounts a big focus, most recently agreeing to buy TIO Networks in February to help people pay their bills using cash at convenience stores.

Comments: Be the first to add a comment

add a comment | go to forum thread