Amazon may soon find yet another way into its customer’s wallets.
The e-commerce behemoth is reportedly chatting with big banks about creating a “checking-account-like product” for its customers.
Details on the effort are scarce but the talks hint that there is no industry that Amazon isn’t willing to disrupt.
Fresh off its acquisition of Whole Foods in August, Amazon has made moves to build its own delivery service that would rival United Parcel Service and FedEx. Amazon is also weighing entering into the health and prescription drugs business.
By offering its own checking-account product — or partnering with a bank to offer one — Amazon could minimize transaction fees on its platform.
Amazon’s talks with the big banks, which include JPMorgan Chase, are in the early stages and it is possible the product may never see the light of day, according to the Wall Street Journal, which first reported the news on Monday.
Capital One Financial is another firm that has pitched Amazon on a possible checking account product, according the Journal’s sources.
“As a matter of practice, we don’t comment on market rumor or speculation,” a spokesperson from Capital One told The Post.
Reps from Amazon and JPMorgan did not immediately respond to requests to comment.
It wouldn’t be Amazon’ s first foray into the financial sphere. Seven years ago, Amazon launched a lending program for small businesses that sell on the platform.
Amazon has also has a working history with JPMorgan. Last month, Amazon and the banking giant revealed they are working with Warren Buffett’s Berkshire Hathaway to create a company that will lower health care costs for employees at all three companies.
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