Amazon launches Amazon Cash, a way to shop its site without a bank card | TechCrunch

Evidently not a late April Fool's initiative

"Like PayPal, Amazon Cash is also meant to appeal to the same general demographic who may not yet be shopping online – those who get paid in cash, don’t have a bank account or debit card, and who don’t use credit cards. This “cash customer” (the unbanked or “underbanked) accounts for around 27 percent of consumers, said a 2015 report from the FDIC.

While they may have money to spend online at times, there isn’t an easy way to do so. Until today, they would have to buy an Amazon Gift Card in a designated amount or add cash to prepaid payment cards, to be used at checkout.

More broadly, the service could appeal to anyone who just wants to deposit some cash in their Amazon.com account, without hassle."

Amazon launches Amazon Cash, a way to shop its site without a bank card | TechCrunch