Send Money, Skip the Fees – Amazon Payment

If you are making a transaction on line these day you have many options, “Western Union” or perhaps the Ebay favorite “Paypal” are among the most popular. Both are fast, secure, and reliable, but both have the same downside, fees. Internet retailing juggernaut Amazon has entered the game and looks to change the rules with “Amazon Payments”. This fee-less payment options gives customers and businesses the security they desire, but without the monetary hassle of fees.

amazon paymentsOne of my favorite features of “Amazon Payment” is that it allows you to send up to 1000 dollars to a friend or family member for free. You can use a credit card to make this payment. This seems like a great way to earn spending bonuses on reward cards. You send a close friend or relative 1000 bucks from a rewards credit card, make sure the payment is sent as a “good/service”. They receive the funds, withdraw them and give you a check. 

Unless otherwise prohibited, this would be a quick and easy way to earn $12,000 worth of rewards a year on your credit card. Depending on the card you could use these points to earn gifts or for travel. How does a free vacation sound? How about a bunch a free gifts cards? This obviously depends on the type of reward card you use and if they would honor such a transaction. I have yet to try it, but I plan to do so in the near future.

Aside from ramping up credit card rewards, Amazon pay is a great way to send and receive money from friends and family. If someone has a special event or a birthday coming up you can use Amazon pay to send them a gift. Just drop some money in their account. They can either withdraw it or use to towards purchases on Amazon.com. Its fast secure and free.

The set up is simple, very similar to setting up a “Paypal” account. Now you have another way to send and receive money from one of the largest and most trusted sites on the web and you no longer have to pay a fee to do so.

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