Amazon Could Be Rolling Out Banking

Share

Amazon may be expanding into online banking. The Wall Street Journal reported Monday that the e-commerce giant is in early talks with financial institutions to build a “checking-account-like” product for its customers.

The move is being seen by analysts as a move to increase engagement on its own marketplace by appealing to a younger,  under-banked demographic. Such a move would pave the way to online shopping access, driving revenue growth while building customer loyalty. Similar moves have worked well for other overseas retailers, such as Alibaba and Rakuten.

Will this idea come to fruition? Watch this space for updates.

Read our post “Q1 Amazon Earnings: Two data points of note for advertisers” for insights on the direction Amazon might be taking in 2020 and beyond. 

Recommendations

Five Key Takeaways from Amazon Accelerate 2022

Better Understand Your Customer Journeys with Amazon Marketing Cloud

Retail Media Transformation with Analytics

DXL Group’s Caitlin Jondro on Driving Retail Media Transformation with Analytics

Subscribe to our Newsletter​

Learn about product updates, webinars, and news for ecommerce professionals.