For the approximately 1.5 million underbanked consumers in the United Kingdom, cash is still king, a fact e-commerce giant Amazon is keeping in mind with the launch of its “Top Up” service.
The service, which works like Amazon Cash, is live today in the U.K. It enables individuals to put up to £250 into their Amazon UK accounts in one transaction, loading the account for online purchases. Users first obtain a barcode, before heading to a “PayPoint” location to load the cash.
This service will allow the millions of cash-dependent underbanked in the country access to the wider world of e-commerce.
These customers can use their funds to shop like any other customer to purchase products, groceries, TV shows, or any of the other items available on Amazon, a source familiar with the matter said.
Essentially, the “top up” service allows users to purchase an Amazon Gift Card, then load it into their account balance.
There are currently about 20,000 of these points, located in convenience stores and the likes, throughout the U.K.1 - Reader Likes This Post