Amazon Looking to Offer Checking Accounts
Amazon is apparently in talks with JPMorgan Chase & Co. among other banks to provide checking accounts for its customers, as reported by The Wall Street Journal.
Bloomberg reports the plan is to target millennials. The WSJ says Amazon also hopes to target those without checking accounts.
According to Bloomberg, the move could lead to Amazon lowering the fees it pays financial institutions and of course a broader look into customers’ incomes and spending habits.