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Amazon begins cash payment in Mexico to attract customers
28
Oct '17
Amazon begins cash payment in Mexico to attract customers
Amazon Inc has begun a cash payment service in Mexico recently. The aim of the company is to expand its customer base in Mexico, where shoppers are wary of credit card fraud and often use paper currency. The strategy will also help it to win market share from rival Wal-Mart de Mexico, known as Walmex along with other retailers who push buyers to shop online.

To avail this service, shoppers can deposit between 100 pesos ($5.20) and 5,000 pesos per transaction at several convenience store chains throughout Mexico, including 7-Eleven, placing up to 10,000 pesos a day into Amazon accounts online.

“The cash service aims to attract new customers and give existing shoppers an alternative to credit and debit cards. I think there could be a population of new clients that would use this as their primary form of payment,” said Fernando Ramirez, product manager for Amazon Mexico.

Amazon Mexico is in tough competition with Argentina’s MercadoLibre Inc and Walmex.

Mexico is also an option for Amazon as it plans to open its second North American headquarters.

Amazon has been accepting cash-on-delivery (COD) in India since it started operating in 2013. But, pre-paying cash mode that it launched in Mexico is quite recent concept and has been launched in the US and the UK this year. (VM)

Fibre2Fashion News Desk – India


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