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Amazon's PayCode Will Allow Online Shoppers To Pay Cash Via Western Union

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Amazon's PayCode Will Allow Online Shoppers To Pay Cash Via Western Union

Amazon.com, Inc. (NASDAQ: AMZN) is launching a service, PayCode, that will allow its customers to choose “Amazon PayCode” at checkout and then pay for their purchases in cash at one of 15,000 The Western Union Company (NYSE: WU) locations.

This is not the first arrangement between Amazon and Western Union. The two companies previously partnered to launch a new payment option that allows Amazon customers in Peru to pay in local currency for their purchases.

The service was being offered initially in 10 countries — Chile, Colombia, Hong Kong, Indonesia, Kenya, Malaysia, Peru, Philippines, Taiwan and Thailand — allowing customers who prefer to pay in cash to shop Amazon's vast product selection.

Western Union shares were trading down 0.44% at $22.76 at the time of publication. The stock has a 52-week high of $24.09 and a 52-week low of $16.42.

Amazon shares were trading down 0.29% at $1,817.31. The stock has a 52-week high of $2,050.50 and a 52-week low of $1,307.

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Photo by Joe Mabel via Wikimedia

Posted-In: e-commerce paymentsNews Best of Benzinga

 

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