Amazon is quietly dabbling in its banking business: it has lent $3bn

E-commerce giant Amazon has launched in the UK market a Cash payment service, the customer can use the service directly transfer Cash to the Amazon account, similar to the market in the United States in April this year Amazon Amazon Cash service.

Amazon launched the service on the market in the UK called “Amazon Top Up”, allows users to transfer 5-250 pounds in cash to your Amazon account, let the consumer products and services can use cash.

Users who use the “AmazonTop Up” service can transfer cash to an amazon account, but can’t rewire the money from the amazon account back to the bank card. Although it is not possible to transfer money in two directions, the service does provide convenience for people on the Internet platform shopping.

In any case, there is no denying that amazon looks like a bank at least from now on.

Amazon said in June that it had lent more than $3 billion to small businesses since it launched its lending service in 2011. Over the past year alone, the e-commerce giant has lent more than $1 billion to small businesses.

“We create amazon borrowing, is to provide loans for up-and-coming small businesses, to make it convenient and efficient to obtain commercial loans, because we know that the timely capital injection, to help small businesses gain greater success,” the amazon market vice President of the pew, nahal oz (PeeyushNahar) said in a news release.

More than 20,000 small businesses have received loans from amazon, with more than 50 percent of them receiving a second loan from amazon.

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