Апреля 24, 2018


Amazon talking to banks about checking account-like product

06 Марта 2018, 01:46 | Gordon Grant

Amazon looks to offer checking accounts for customers via JP Morgan, other banks: WSJ

Are You Ready for an Amazon-Branded Checking Account?

While the talks still aren't aimed at Amazon becoming a bonafide bank, they are geared towards offering a financial product to younger customers who may not have access to a bank account, the paper reported citing people familiar with the matter. Amazon was not immediately available for comment.

The Wall Street Journal said any potential collaboration is "in its early stages and may not come to fruition".

Shares of Amazon AMZN surged more than 1.2% in late-morning trading Monday after new reports linked the company to the financial industry, suggesting that the e-commerce behemoth's plans to launch new account services might include a major partnership. The story was also scant on details about what exactly Amazon might offer beyond checking accounts.

"Last fall, [Amazon] put out a request for proposals from several banks for a hybrid-type checking account and is weighing pitches from firms including JPMorgan and Capital One Financial Corp., some of the people said".

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It's no secret Amazon wants to keep shoppers on their platform. It's a miracle you're not reading this on an Amazon-designed smartphone.

Amazon has already ventured into other business areas including shipping and medical care.

That JPMorgan Chase & Co.is seemingly among the first banks Amazon has approached about the project is most likely no coincidence. It's completely possible that the company will shy away from the effort and nothing will happen, reports The Wall Street Journal. It looks like this is a very limited move and they're partnering with JPMorgan. Scandal ridden Wells Farg is still one of Berkshire Hathaway's top holdings.

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