Amazon's PayCode Will Allow Online Shoppers To Pay Cash Via Western Union

Amazon.com, Inc. AMZN is launching a service, PayCode, that will allow its customers to choose “Amazon PayCode” at checkout and then pay for their purchases in cash at one of 15,000 The Western Union Company WU locations.

This is not the first arrangement between Amazon and Western Union. The two companies previously partnered to launch a new payment option that allows Amazon customers in Peru to pay in local currency for their purchases.

The service was being offered initially in 10 countries — Chile, Colombia, Hong Kong, Indonesia, Kenya, Malaysia, Peru, Philippines, Taiwan and Thailand — allowing customers who prefer to pay in cash to shop Amazon's vast product selection.

Western Union shares were trading down 0.44% at $22.76 at the time of publication. The stock has a 52-week high of $24.09 and a 52-week low of $16.42.

Amazon shares were trading down 0.29% at $1,817.31. The stock has a 52-week high of $2,050.50 and a 52-week low of $1,307.

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Photo by Joe Mabel via Wikimedia.