Amazon Cash, the new payment system lets you shop without a bank card

World's Biggest online shopping Amazon has announced a new service called 'Amazon Cash'. It is a new payment system that the customers can buy its products without the need for your bank card.

That means a new service that allows the consumer to add cash amount to their Amazon.com balance by showing a barcode at a participating retailer, and the fund appeared in the amazon account immediately. The amount between $15 -$500 is applicable for a single transaction in this service.

Those who have Amazon account on an iPhone or any Android handsets with the Amazon mobile app can generate the code on their devices. Alternatively, the barcode will be scanned and printed. And the printed barcode paper will send to your home. Once the barcode is scanned, the cash is converted into an Amazon gift card that is credited to the customer's account. The deposited cash is considered as a gift card and there are no extra fee charges for the transaction.

Amazon says "Funds are available immediately after the cashier hands you a receipt for your transaction".

This service is not a new one which is already in PayPal, whose PayPal My Cash Card lets you add cash to your online account of PayPal, using the cash from your wallet. This also performed on a barcode service.

Amazon cash will be available at brick-and-mortar retailers across the U.S. The stores including CVS Pharmacy, Speedway, Sheetz, Kum & Go, D&W Fresh Market, Family Fare Supermarkets, and VG's Grocery. The Amazon company plans to add more retailers in the upcoming month.