Bye Bye Amazon Payments

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For years now, with Amazon Payments you’ve been able to send for free up to $1,000/month to a friend via credit card. This has been a great way to accrue points/miles and meet minimum spend requirements. I saw a post from Dan’s Deals last night with the unfortunate news that come October 13, 2014 this manufactured spend method will be over. And if you have an Amazon Payment account you probably received an email from them this morning, and the terms state: “the elimination of person-to-person payments“.  You can read the new user agreement policy here if you want.

So make sure to keep the date October 12, 2014 in mind as it will be your last day to use Amazon Payments to send someone else money. Fortunately though, you still have two months to take advantage of the $1,000 maximum.

Now, some are wondering if paying person-to-business will work via Amazon Local Register. This is a new-ish product similar to Square Cash. While you absolutely can use a credit card to swipe, it will cost you 1.75% (assuming you sign up by October 31, and that % will last through the end of 2015). While this is cheaper then Square Cash, 1.75% can still add up. Let’s say you swipe through $1,000 for the month, it will cost you $17.50. If you are trying to meet a $1,000 minimum spend requirement, it could be worth it, but “buying” points at 1.75 cents per month can be costly. Of course if you have a specific redemption in mind and the math works out then go for it. I suggest though treading with caution.

While I am very sad to see Amazon Payments go away as it was an easy way to “spend” $1,000 from the comfort at home, things always pop up on ways to earn points and miles.

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