Amazon Becomes Debit Card Issuer in Mexico

by Sarah Grotta 0

Credit Card

Further emphasizing the importance of the payment experience, Amazon is getting into the debit card business to help consumers in Mexico without a card to conduct transactions on Amazon.com and elsewhere:

Amazon said that Mexico was the first country where it has offered a debit card, called Amazon Rechargeable, aiming to give customers a new method to shop on its website.

“Clients that don’t have a credit or debit card will find Amazon Rechargeable an easy and practical way to convert cash into a payment method,” said Fernando Ramirez, Amazon’s product manager in Mexico, in a statement.

The Mastercard branded card is also connected to a reload network so consumers can present cash to a retailer and have that loaded onto the card:

Amazon’s card, backed by MasterCard and Mexican bank Grupo Financiero Banorte, can be loaded with cash at convenience stores across the country.

We will be watching to see if this tactic is expanded to other geographies.

Overview by Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group

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