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Sept. 18, 2019, 9:27 a.m. EDT

Amazon launches pay-with-cash service in U.S. at Western Union locations; Western Union's stock surges

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By Tomi Kilgore

Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +2.49% said Wednesday it is launching Amazon PayCode in the U.S., which allows customers to pay for online purchases in cash at Western Union Co. /zigman2/quotes/206269665/composite WU +0.19% locations. Amazon said 80% of Americans live within five miles of one of Western Union's 15,000 locations. Western Union's stock rallied 3.5% in premarket trading, while Amazon shares slipped 0.2%. The ecommerce giant said Amazon Cash, which allows customers to load cash into their Amazon Balance for making online purchases, is also now available in cash-loading locations. Amazon said PayCode has already been available in 19 countries. Amazon's stock has rallied 21.3% year to date through Tuesday, while Western Union shares have run up 34.0% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.60% has gained 19.9%.

/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,095.13
+75.34 +2.49%
Volume: 4.62M
Sept. 25, 2020 4:00p
P/E Ratio
118.97
Dividend Yield
N/A
Market Cap
$1550.32 billion
Rev. per Employee
$359,671
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/zigman2/quotes/206269665/composite
US : U.S.: NYSE
$ 21.57
+0.04 +0.19%
Volume: 2.21M
Sept. 25, 2020 4:03p
P/E Ratio
14.85
Dividend Yield
4.17%
Market Cap
$8.87 billion
Rev. per Employee
$464,417
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/zigman2/quotes/210599714/realtime
US : S&P US
3,298.46
+51.87 +1.60%
Volume: 2.18B
Sept. 25, 2020 5:06p
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