Wednesday, December 21, 2016

Amazon India open a savings but no loans pit

NFC World: Indian shoppers on Amazon India can now store funds and complete online purchases in a new feature called Amazon Pay Balance, Live Mint reports. “Amazon Pay Balance can be credited with money using internet banking and credit or debit card, and used for multiple payments for purchases from the ecommerce portal,” it says. The feature “will also enable faster refunds” to Amazon Pay Balance rather than to the user’s bank account or credit card.
Jeff, go ahead and issue  credit. We can see if you have paid attention. Your Amazon Pay maintains the identity and credit card, hence, you have some measure of credit risk.  Allow trusted customers to both take loans and leave deposits, for use in internal Amazon purchases.

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