For example, if you select "No longer needed," you may be charged for the return. If your reason for return is other than that, you may not.
Here are all the various return reasons Amazon gives you to choose from as well as a description of exactly what they mean:. Next you'll have to choose how you want your money back. The quickest way is to request a credit to your Amazon account, which Amazon will issue as soon as UPS scans your return into its system.
But then you're restricted to spending the money at Amazon. You can also have the funds put back on your debit or credit card. But even though Amazon will issue the refund as soon as UPS takes possession of your return package, it still could take another three to five business days to show up in your account. Whether you choose a credit or a refund, you'll still need to decide how you want to send the item back.
When Amazon asks you to select a return shipping method, Kohl's Drop off may be the default preselected option, but it's not always the one you want unless you need to go to Kohl's anyway. To get to the UPS Pick up option, which is the only way to return items without leaving home, you'll have to scroll down and possibly even click a link that reads something like See more return options. Fun fact: Merchandise ordered through Amazon's digital assistant Alexa comes with free returns regardless of the reason.
Follow whatever instructions Amazon gives you, which will probably just be to print out a packing slip and place it in the package with your return. Amazon is instead moving forward on its own. In March , the company announced the rollout of Amazon Care to its employees in all 50 states.
And in the next stage, this telehealth service will be offered to other employers as well. Because Amazon would get a cut of each financial service transaction made on its platform, it may look to get other banks and financial institutions to sell their services online. Amazon is aggressively entering emerging markets to expand, but also to pilot and take a deeper role in developing new financial services products. These emerging markets are attractive because of rapid mobile internet adoption, a lack of legacy infrastructure, and a growing number of the population entering into the middle class.
Three of the most notable markets where this is taking place today are India, Mexico, and South America. The feature allows small businesses to set up a digital storefront on the Amazon marketplace that customers can access by scanning a QR code. Customers can then make online payments through their Amazon wallet, credit and debit cards, or in monthly installments. Similar to its US strategy, Amazon is investing in enabling faster, frictionless payments to help boost marketplace sales — always a key focus for the e-commerce giant.
Some of that burn is the result of the fixed operating costs to set up the business, but is also money spent in promotional offers to acquire customers. Amazon has a firm belief that its customer lifetime value LTV exceeds its customer acquisition cost CAC , which is why it continues to be competitive on price. At the time, Amazon also announced it would inject more capital in its Indian digital payment business. In addition to cash, the company is also launching new services and ramping up investments in startups.
In January , Amazon Pay rolled out the Doorstep feature, a cash pickup service that allows customers to load money into their Amazon Pay digital payment wallets. Users can top up their balances using cash for digital services including food delivery, bill payment, and mobile recharges. The gift card system has since been integrated into Amazon Pay and can be used as a form of payment on the Amazon India marketplace.
ToneTag is a contactless payments hardware and software provider that can be integrated at both merchant e. This partnership will also expand Amazon Pay in India to offline commerce, a milestone that took the company over a decade in the US.
In August , Amazon acquired Tapzo , an all-in-one mobile platform based in India that aggregates a variety of apps in one place.
The move could allow Amazon to facilitate flight booking and other diverse transactions. Further, this type of tool should help Amazon learn how to seamlessly integrate product and service offerings in one platform. Watch for lessons from this kind of all-in-one functionality to spread to other markets, including the Americas. Amazon has also partnered with a handful of on-demand, high-frequency businesses including food delivery app Swiggy and ticketing app BookMyShow , all of which could boost payment processing volume.
This allows users to make payments to friends and family, in addition to using the digital wallet for making purchases online and in stores. Capital Float has also expanded into point-of-sale financing for retailers, launched an online payments gateway for borrowers to repay loans, and started piloting alternative underwriting models.
In June , Amazon launched a new lending experiment in India, a marketplace for lenders and sellers to obtain a competitive loan. With this partnership, Amazon sellers in India can get loans set up directly in their Amazon Seller Dashboard.
FlexiLoans offers underbanked Amazon sellers funding and collateral-free loans, and processed 10, loans between and Pay Later is an instant credit service that allows interest-free purchases on Amazon. Acko reports having 60M customers on its platform for B2C and B2B coverage, as well as third-party micro-insurance for ticket cancellation, ride-hailing, and driver protection.
In , Amazon received a license to start selling third-party insurance products in India. In addition, the company launched a feature to enable payments of insurance premiums in India through its Amazon Pay wallet, and has been pushing the car insurance product offered by Acko on its platform.
India presents a vast opportunity for Amazon to experiment with its insurance business. Overall insurance penetration in the country increased from just 2. But the company is yet to turn a profit and is facing a number of challenges. These and other e-commerce players bypassed this rule by operating through joint ventures with local companies that acted as inventory-holding firms. This loophole was closed in December Local authorities adopted new rules that prohibit foreign e-commerce companies from listing items of sellers in which they have an ownership stake.
Amazon, Flipkart, and other foreign e-commerce businesses then had to delist thousands of items from their stores. They also had to make investments in sellers even more indirect. India seems bent on tightening these rules further. At the beginning of , the government started discussing new rules that would forbid foreign e-commerce firms from holding a stake in sellers through their parents.
Amazon may especially be hit hard by this policy change. The retail giant has indirect equity stakes in 2 sellers that account for more than a third of its sales revenue in India. Amazon is also facing growing competitive pressure. Amazon is trying to prevent this deal. Amazon Cash launched in Mexico in October Like Amazon Cash, customers can deposit cash on the debit card at convenience stores across the country.
These hurdles mean Mexico is an untapped opportunity for Amazon to convert offline purchases to online commerce. The system, also known as CoDi, allows people to use QR codes to pay for purchases made both on- and offline. CoDi rolled out first as a small pilot that spring, with a complete rollout in October with 33 participating banks. Amazon is expanding its footprint across South America. The US giant is forming partnerships with payment processors, growing its distribution network, and expanding data center infrastructure.
Amazon partnered with fintech firm dLocal to enable Chilean customers to pay in pesos while shopping on Amazon. Shoppers can also pay in 3 monthly interest-free installments using Visa, American Express, and Mastercard credit cards issued by banks in Chile.
Customers in Colombia will have an equally seamless shopping experience. Amazon teamed up with payment solutions company EBANX to enable Colombian shoppers to pay for goods in local currency and using local payment methods. And until now, shoppers in Chile or Colombia could only pay in local currency if they used Amazon PayCode as a checkout option. Brazil remains the largest retail market in South America. To catch up with the competition, the company rolled out Prime Day in September for the first time, and also expanded its logistics hubs to offer Prime deliveries in cities.
Although the company has since scrapped the idea, the media attention remains. Source: The Financial Brand. It comes as no surprise that his transition to the role of executive chairman and the appointment of Andy Jassy as the new CEO raises lots of questions. And this experience may prove to be invaluable in helping Amazon innovate in the finance field.
Alyson Clarke, the principal analyst at Forrester , also points out that Amazon is likely to continue partnering with other financial institutions. Any ambitions they have can be done via partnerships. Source: Coindesk. Another job posting said that the currency is geared toward emerging markets. It remains unclear what the value proposition of Amazon-owned currency is and whether it is blockchain-based.
Whatever the case, Amazon has once again shown its willingness to experiment with different technologies. However, the partnership between Amazon and Realogy was suspended in mid because of the Covid pandemic.
Nevertheless, Amazon is trying to wedge itself deeper into the home. By getting ahead of buyers as they start their search and incentivizing them with Amazon services, the company is aiming to create a massive cross-selling opportunity for its products. The move could also help Amazon expand into home insurance or mortgage offerings. Source : June , The Information. While the company has made insurtech investments in India such as in Acko and a partnership in the EU to offer Amazon Protect, acting as more than a distributor of existing home insurance products seems unlikely.
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