The new partnership should put Amazon ahead of its competition by bringing PayCode to the US.
The global retail giant announced on Wednesday morning that it’s bringing PayCode to the US. The service is already available in 19 other countries, allowing customers to pay with cash when they get to the Amazon checkout page. When Amazon customers choose to use PayCode, they’re given a code when they check out which they then bring to any WU location to settle with a cash payment. At that point, WU would transfer the money to Amazon.
This new offer from Amazon builds up upon their existing Amazon Cash service. This service allows users to top up their Amazon account with cash by visiting a participating bank. PayCode will build upon Amazon Cash’s success by opening up new opportunities in the US. Many Americans are unable to pay for online orders with debit or credit cards, or are simply unwilling to do so. These new options are expected to send even more market share to Amazon. According to Amazon, the the new service will be launched in the coming weeks.
Despite the rapid growth of online shopping, Americans lag behind many other countries when it comes to newer payment methods. The majority of payments that take place in the US are still made in person and cash is the preferred method a third of the time, according to Business Insider.