LatAm: Amazon to offer cash payment service in Mexico

Amazon has launched a cash payment service in Mexico in a bid to reach customers who are concerned about card fraud and those preferring to use cash. The service, which allows consumers to deposit cash into an Amazon account in advance, is a new payment option of the e-commerce giant, first rolled out in the United States and Britain earlier this year.

Consumers wishing to use the service can visit any partnered convenience store, such as a 7-Eleven, and deposit up to 10,000 pesos into their account a day. Fernando Ramirez, the Product Manager for Amazon Mexico, explained, “the cash service aims to attract new customers and give existing shoppers an alternative to credit and debit cards.”

According to RFi Group data, security is a key consideration among Mexicans when making online payments, what suggests that many in the market might find this new solution very appealing.

Amazon has operated in the country for two years and is currently Mexico’s third largest online retailer. In the market, Amazon competes against Argentina’s MercadoLibre and Walmart’s Walmex.

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