AMZN: Amazon Has No Bitcoin Plans, But …

by Burke Speaker | April 15, 2014 9:12 am

AMZN: Amazon Has No Bitcoin Plans, But …

Amazon (AMZN[1]) has shot down rumors that it may accept bitcoins — though it did not rule out a global currency to take on credit card companies.

Amazon AMZN: Amazon Has No Bitcoin Plans, But ...[2]“Obviously it gets a lot of press and we have considered it,” Amazon payments head Tom Taylor told Re/code, “but we’re not hearing from customers that it’s right for them and don’t have any plans within Amazon to engage bitcoin.”

The most recognized online seller to accept the digital currency known as bitcoin is Overstock.com — while retailers such as Walmart and EBay have declined engaging in the currency exchange.

Taylor told Re/code that Amazon would, however, consider a way to branch out into a universal purchasing method for its customers that would cut out credit card companies in favor of something different. So will an Amazon-only card or payment method be on the horizon?

“If we felt like we could do a better job than Amex and Visa, and feel like it helps the customer experience, that’s something we would do,” he told the news site. “But it would really have to be something much better than [what they do].”

Last fall, Amazon launched a payments solution[3] for unaffiliated merchants in an attempt to compete with PayPal.

AMZN stock is down 20% year to date.

More Amazon News

Endnotes:
  1. AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
  2. [Image]: http://investorplace.com/wp-content/uploads/2011/05/Amazon.png
  3. a payments solution: http://seekingalpha.com/news/1319042-amazon-launches-paypal-rival-paypal-adds-qr-code-payment-option

Source URL: http://investorplace.com/2014/04/amzn-amazon-no-bitcoin-plans/
Short URL: http://invstplc.com/1ilBB1G