Payment Source Brings Amazon Cash To Canada

Problem

As Amazon grows its presence in ecommerce, how does it begin to attract consumers who traditionally haven’t been able to transact online, primarily because they don’t have or don’t want to use a credit card.

While 92% of people have a credit card, according to a CPPO study:

31% do not want to have a credit card.

26% have a running balance.

40% have credit card debt.

Additionally, security around financial information impacts ecommerce growth: 66% of consumers are cautious and 20% are strongly concerned with sharing their financial information online. To accelerate growth, Amazon needed to find alternative methods to the credit card for consumers to shop and make purchases online.

Solution

Amazon noticed that a significant portion of consumers were purchasing gift cards for self-use.

To improve the experience and make this a more accessible solution, Amazon launched Amazon Cash, a mechanism that allows consumers to add funds to their gift card balance using a barcode or their phone number at a retail store so that they can use those funds to shop online.

Payment Source worked with Amazon to launch this solution in Canada in 2017. Amazon users can visit https://amazon.ca/cash to generate their personal barcode and then visit one of our 13,000 merchants and retailers to instantly add funds using cash or their debit card.

Results

The entire onboarding and development process took just over 3 months as we were able to leverage our Loadhub platform to rapidly deploy the solution to Canada Post. With Amazon Cash, Amazon is now truly able to offer their store to every Canadian, and support their rapid growth.

Leading up to Prime Day in July 2018, the service delivered thousands of new customers to Amazon over the course of a few days. Retailers participating in the service have added new revenue streams at no cost to their business and drive new foot traffic.

Launching Amazon Cash In Canada