Amazon reportedly wants to create checking accounts for teens


Amazon is in early discussions with banks including JPMorgan Chase & Co. and Capital One Financial Corp. to create something akin to checking accounts that will be aimed at teenagers, according to sources who spoke to Bloomberg.

While Amazon has been able to successfully market to millennials and older groups, those who are 18–24 have been elusive because they lack debit cards, tend to not have bank accounts, and choose to purchase items at physical stores, according to Bloomberg.

Last year, the company introduced Amazon Cash, a way for customers without credit, debit, or bank cards shop online. A barcode is generated on the Amazon website, which can then be displayed on a mobile device or printed out, and brought to a retailer like CVS...

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via The Verge - Tech Posts "https://ift.tt/2GWwkz6"

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