Jump to content

Western Union’s platform is powering Amazon’s new cross-border payment option, called Amazon PayCode


Recommended Posts

Amazon partnered with Western Union to allow customers to pay for purchases with cash at their local Western Union, in their local currencies. The customers will be given a code at checkout, they can take that code to any local WU, provide that code and pay in cash. I think there are only a few participating countries ATM (Thailand, Chile, Kenya, Colombia, HK, Malaysia, Peru, Philippines, Taiwan, Indonesia). i may be purely speculating but i think it's only a matter of time before Ripple's implementation is announced. Also Given Ripple heavy presence in Philippines and Thailand already, im sure there's a lot going in the background.

 

https://www.amazon.com/b?node=18155195011


https://www.businesswire.com/news/home/20190212005997/en/

Link to post
Share on other sites
  • 2 weeks later...

How does Ripple fit into this? You go to a local WU and you pay in cash and then WU takes a chunk of the cut. Then WU sends the money back to Amazon using X-rapid? I guess that could work. But that part of sending the money back to amazon could be x-rapid but they don't even mention that.

Edited by Archbob
Link to post
Share on other sites
52 minutes ago, Rust said:

@Archbob Ripple COULD fit into this as Western Union recently alluded that they were still trialling Ripple's technology. They could be using this tech in corridors where their existing infrastructure does not reach.

 

 

Hopefully the attached thread is of interest. 

 

I was talking about where it would be actually used. The customer wouldn't be using it because he/she is paying in cash at the Western union location. The only way is when WU sends the money back to Amazon after taking their cut, but that part of the process isn't even mentioned in the article. It would have nothing to do with the Customer.

 

https://techcrunch.com/2019/02/14/amazon-westernunion-debut-paycode-for-emerging-market-shoppers-to-pay-for-items-in-cash/

 

Specifically, shoppers in these markets will now be able to go into Western Union outposts and pay for their Amazon purchases in cash, which also means that payment cards or other virtual payment methods will also not be required to buy from Amazon — one of the barriers to expanding the service up to now into more emerging economies, where card and bank account penetration is much lower than in developed markets like the U.S. and Europe.

Edited by Archbob
Link to post
Share on other sites

@Archbob Ripple's technology is back end tech. It is not something that (general) customers care about. A customer wants to take their money to WU in one country and for their payment to go through as quickly and cheaply as possible. What tech is used will be completely arbitrary to most. To address your statement, you are correct. Ripple tech would be used between WU in country 1 and Amazon in country 2.  You are also correct in the aspect that other than transaction speed and fee, it has nothing to do with the customer.

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.