Amazon has launched its first debit card, dubbed Amazon Rechargeable, in Mexico to cater to customers who do not have bank accounts and encourage e-commerce in the country.
Available in virtual and physical variants, the debit card is backed by MasterCard and Mexican bank Grupo Financiero Banorte.
In addition to Amazon’s own website, the card can be used at other e-commerce stores or for paying various online merchants such as Uber and Netflix. It can also be used to withdraw cash from ATMs.
Furthermore, physical card can be used for in-store purchases also. Customers can top up the card with cash at convenience stores throughout Mexico.
Amazon product manager in Mexico, Fernando Ramirez was quoted by media sources as saying: “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.”
According to statistics reported in 2017, less than one-third of Mexican adults have credit cards. To help such shoppers, Amazon also introduced a cash payment service in October last year for online orders.