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prepaid cash/debit cards already exist though. Amazon wants to be in that market too?
by metaphorm 10y ago
prepaid cash/debit cards already exist though. Amazon wants to be in that market too?
- Nexxxeh 10y agoDo they not have fees attached in the US? In the UK, pre-paid cards are relatively expensive. £25 card usually costs £27+ and then there are potentially extra fees on top. I could definitely see people using this.
- metaphorm 10y agoI'm not an expert on this market by any means, but I just checked what my own retail bank (Bank of America) offers [0]. It looks like there is no fee for putting money on the card and no fee for normal point of sale transactions (presumably including internet transaction). There are ways to get hit with fees while using this card, but it is also possible to use this to buy things on Amazon with no additional fees at all. [0] - https://prepaid.bankofamerica.com/CashPay/Home/Index?m=1 https://prepaid.bankofamerica.com/CashPay/Home/Index?m=1
- Nexxxeh 10y agoOh, I meant the prepaid cash-like Visa or Mastercard cards that you can pick up in supermarkets. Not a debit card from a bank.
- sailfast 10y agoThere are a number of fees that can be attached to these cards that eat into the initial deposit. https://www.consumerfinance.gov/consumer-tools/prepaid-cards/understand-fees/ https://www.consumerfinance.gov/consumer-tools/prepaid-cards... Additional hypothesis: could be they also get the normal network fees waived for increasing foot traffic to the retail outlets?