Posted November 03, 2018 12:13:59Amazon.com (AMZN), the world’s largest e-commerce company, announced it would begin accepting cash at its retail locations in the U.S. and Canada starting Tuesday, a step it had been hesitant to take for months.
Amazon has become one of the biggest retailers in North America, accounting for more than half of all U.N. sales and nearly 20% of U.K. sales.
But Amazon is facing stiff competition from online retailers like Walmart and Target, which are offering better products at lower prices.
The online retailers, including Walmart and Costco, also offer discounts to customers, but Amazon has refused to negotiate lower prices on its products.
Amazon’s decision to start accepting cash will be welcomed by retailers who had been wary of doing business with Amazon.
Amazon’s cashiers are expected to accept $10-to-$15-store credit cards, and customers will be able to buy items through Amazon.com’s website or directly from its online store.
The company also said it will allow customers to order online, which it says will be a significant shift in the way consumers shop.
Amazon said it would not disclose the exact price of each item, but said it expects to pay a 10% fee on orders over $50.
In addition, customers can pay through Amazon Payments, which is available at many major retailers.
Walmart announced in July it would start accepting the new cash service, while Target, a subsidiary of Wal-Mart Stores Inc., announced in December that it would allow its stores to accept cash.
Wal-Mart said last month that it was not accepting cash for all its retail operations.
Target, the largest U.M. retailer, announced last month it would accept cash payments for purchases.
Walter Jones, chief executive of Walgreen Co., the world leader in branded prescription drugs, said in an interview that Amazon’s move would make it easier for customers to buy and use the drugstore chains.
“I think they’re going to get a lot of customers to accept the cashier,” he said.
“They have more options for those types of transactions.”
Walmart also said the change will allow shoppers to choose the right prescription drugs at lower costs.
The Amazon move follows a $1.6 billion U.C.N.-backed program, which was launched in July 2018, aimed at encouraging companies to open online drugstores and provide cheaper, more accessible drug delivery options to customers.
The U.G.C., which is part of the World Health Organization, has also urged governments to support the online drugstore industry and support the implementation of universal drug distribution networks by 2020.
Amazon said the program would be a “game changer” in the fight against the drug problem.
Amazon has already begun accepting cash payments at stores across the U, but has not started accepting cash to cover sales at the online store yet.
“Amazon has taken this step to bring more choice to its customers and help the U’s drug system reach even more people,” said Chris McQuade, chief financial officer at Amazon Payments.