Amazon Is Looking to Offer Checking Accounts, Reports Says

by Ben Pena Марта 6, 2018, 1:33
Amazon Is Looking to Offer Checking Accounts, Reports Says

So Jeff wants to reach out to the unbanked and make them banked via an Amazon checking account.

The plan: The Wall Street Journal is reporting that the tech giant is building a product similar to a checking account, meant to attract people who don't now have bank accounts.

Reps from Amazon and JPMorgan did not immediately respond to requests to comment. Instead, it would likely partner with a bank on the new product, as it does with credit cards. The retailer would target "young consumers" and people without access to traditional checking accounts, the report says.

Amazon is considering offering customers a current account product, according to reports which will send a shiver down the spine of the banking industry.

AMZN stock was up 1% as of Monday afternoon.

Читайте также: Travis Scott shares photo of baby Stormi

One problem with, Inc.'s plans are restrictions it may face from its rivals and legislators. This includes buying up Whole Foods past year and recent plans to offer its own shipping service, which would reduce its need for United Parcel Service, Inc. Among the companies Amazon officials are speaking with is JP Morgan Chase & Co., according to the newspaper.

Earlier this year, Amazon and JPMorgan teamed up with Warren Buffett's Berkshire Hathaway to tackle rising healthcare costs for their United States employees.

While U.S. policy makers have for years been skeptical of letting big companies move into banking services, that may be changing.

Buffett also owns big stakes in Bank of America, American Express, Bank of New York Mellon and Goldman Sachs.

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