Amazon’s New Feature: Prime Reload

Amazon's New Feature: Prime Reload

Amazon has added yet another feature to its services, Prime Reload.  Available to Amazon Prime members, it is encouraging you to pay through your checking accounts by offering an incentive. If members fund their Amazon balances with their debit card they are eligible to get back 2% of their purchases.

Amazon already offers two branded Visa credit cards, but it seems now they are encouraging members not to charge to their accounts. According to statistics, there are over 66 million Amazon Prime users and approximately 32 percent own a branded Amazon credit card. Almost half of all users spend more than $1,000 per year. The total annual revenue for Prime is reaching up to $6 million.

To register for Prime Reload, Amazon Prime users must provide:       

  • Debit card number
  • U.S. bank account number
  • Routing number
  • U.S. state driver’s license number

Many reporters are saying not to worry about Amazon buying a bank, “Amazon is a bank”. One analyst has mentioned that they believe people treat money differently when it is moved from a checking account into a gift card type account. They may be inclined to spend more frivolously. However, people do tend to spend more of their money online today and at least Amazon is offering 2% back. Read more about Amazon Prime Reload and what the analysts have said about this new feature.

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