In case there was still any doubt about whether there was any business sector in which the retail giant had no interest, today we know that amazon-bank could be a reality soon.
According to , Amazon is in talks with JP Morgan Chase and Capital One among others large banks and financial services firms to create a bank account service which could be called Amazon Bank.
Amazon would diversify (further) its services with Amazon Bank
Soon the company could enter the fintech sector to offer financial services that will include the possibility of contracting a bank account.
Although the information does not yet have any official confirmation, the report suggests that talks to start Amazon Bank are still in the early stages, and very few details can be known about the new service beyond knowing that amazon-bank would offer bank accounts to its customers.
This movement of the retail giant is quite logical. With Amazon Bank, the company could build a more fluid relationship with its millions of customers. By being able to pay for your purchases and services directly with an account of the company itself rates could be lowereds that you pay credit card companies, banks and payment processors for each transaction.
Banking is a highly regulated business and it would be hard to imagine that Amazon Bank would form its own banking portfoliobut by partnering with banks it could attract other young consumers who do not yet have credit cards or bank accounts through financial products integrated into its platform.
So Amazon would not be a real rival (for now) to banks, and while it would keep commissions to a minimum, banks could access the millions of customers that Amazon currently has around the world.
The retail giant goes beyond just dominating the retail sector
amazon little by little extends its services and products in every way to each available business area. This giant can boast of being the dominant eCommerce company globally, and it increased even more with both its smart stores and its acquisition of in 2017.
In addition, its system has managed to position itself in the public’s taste for video streaming, while the company is betting more and more on the production of series and original films.
also managed overcome logistics obstacles opening the way in the parcel delivery business, and continues with its plans to develop disruptive methods such as and expand its deliveries to other horizons with its
And as for the sector, Amazon at the end of January announced that it would enter the business in conjunction with JP Morgan Chase and Berkshire Hathaway in the United States, in addition to you already have a credit card with the same JP Morgan issued by Visa.
And while we know if Amazon Bank will be a reality or just one of the plans of the retail giant that remains on the table, for the moment users can use secure payment system that allows you to buy in other online stores using the Amazon account.
Amazon wants to start selling…checking accounts. If the , what will be your next step?
— Marketing4eCommerce (@Mkt4eCommerce)
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