Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Tech
News18 » Tech
1-min read

Amazon Debit Card Launched in Mexico as a First

Amazon said that Mexico was the first country where it has offered a debit card, called Amazon Rechargeable.

News18.com

Updated:March 14, 2018, 12:12 PM IST
facebookTwitter Pocket whatsapp
Amazon, technology news
Amazon said that Mexico was the first country where it has offered a debit card, called Amazon Rechargeable.

Amazon.com Inc launched its first-ever debit card on Tuesday in Mexico, part of a push to encourage shoppers without bank accounts to buy online. Internet retailers and brick-and-mortar chains in Mexico are investing heavily in e-commerce as the sector gains in popularity, although it is still a small fraction of total retail sales.

Part of the challenge is attracting consumers who are wary of online fraud and do not have access to credit and debit cards. Less than a third of adults in Mexico have credit cards, according to a 2017 government report.

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.

Also read: PM Narendra Modi, President Ram Nath Kovind Mourn Stephen Hawking's Demise

Easy-access debit cards could help pull people into the formal economy, especially if tied to shopping promotions, Actinver analyst Carlos Hermosillo Bernal said.

"How do you bring formality to the informal sector? You have to make a bridge," he said.

Shopping chains typically offer credit but rarely debit cards, Hermosillo Bernal added. Amazon's card, backed by MasterCard and Mexican bank Grupo Financiero Banorte, can be loaded with cash at convenience stores across the country.

Amazon last October began offering a cash payment system at convenience stores including 7-Eleven, similarly targeting shoppers without credit cards.

Watch: Google Assistant Powered Home Automation | First Look at MWC 2018

 

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Sarthak Dogra
Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results