Amazon is reportedly looking at getting into the retail banking space. According to The Wall Street Journal, the company is contemplating launching a new checking account that would cater to young people and “the unbanked†— those defined as having struggled to gain access to traditional financial services. Although not expected, there are three reasons why this move isn’t particularly shocking. Firstly, Amazon has fingers in a lot of pies — not just online retail, but also web services, payment processing, logistics, and more. What’s another? Especially in an industry that’s renowned for its excesses and the ludicrous profits. That…
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