New Collaboration to Introduce PayCode to the US

Amazon, the global retail giant, has revealed a new venture aiming to bring PayCode to the United States. PayCode, an existing service in 19 countries, enables customers to make cash payments at the Amazon checkout. Upon selecting PayCode, customers receive a unique code at checkout, which they can then use to make a cash payment at any Western Union (WU) location. Western Union will subsequently transfer the funds to Amazon.

This initiative by Amazon complements its current Amazon Cash service, where users can deposit cash into their Amazon account at designated bank locations. Introducing PayCode in the US is set to broaden payment alternatives, opening up new avenues for those Americans who may not have debit or credit cards or prefer not to use them. Amazon expects this new addition to further solidify its standing in the market. The company has announced plans to launch the service in the upcoming weeks.

Despite the increasing prevalence of online shopping, the adoption of novel payment methods in the US lags behind other countries. The US still largely relies on in-person payments, with cash being the chosen method a third of the time, according to Business Insider.