Online retail giant, Amazon has taken various steps to help buyer shop online even without a bank card. Now it is taking their efforts to their logical conclusion as the internet retailer has introduced Amazon Rechargeable, its first debit card, in Mexico. It is not like the conventional credit f debit card, as users can top it up using cash — they can load it with the equivalent of $967 per month. The users receive a virtual card the moment that they sign up (the users are only required to supply their basic name, gender, and date of birth information), and anyone who loads Amazon Rechargeable with the equivalent of $27 or more will receive a physical card.
The card is not limited to Amazon, either. The user can use it at other online stores, or to take advantage of outside internet services such as Spotify, Uber, and Netflix. Owners of the Physical card can even shop in retail stores. And if they require some cash in a pinch, they can also withdraw money from ATMs.
As with Amazon Cash and other similar efforts, there is a clear objective: making Amazon accessible to a larger swath of the population. According to the latest report of the government, below a third of adults in Mexico have credit cards, and that hugely limits their ability to shop via websites that frequently insist on credit. Theoretically, Amazon Rechargeable enables many more people from buying from Amazon — and since it is relatively open, it gives them much more overall purchasing power.