Amazon Ditches Wallet
Jan. 22, 2015
Amazon yesterday announced it is scrapping its six-month-old digital wallet initiative. The Seattle-based company launched Amazon Wallet in beta last July ahead of the higher-profile launch of its Fire phone but began informing users Tuesday via email that it is shuttering the program and removing the app from app stores. Users will still have access to balances on gift or loyalty cards that already have been loaded into their wallet.
Amazon is deserting wallets just as the space is heating up with the September introduction of Apple Pay and recent reports that Google is in talks to acquire Softcard to bolster Google Wallet. The company, however, left the door open for a return.
Amazon spokesman Tom Cook said in a statement: “We have learned a great deal from the introduction of the Wallet and will look for ways to apply these lessons in the future as we continue to innovate on behalf of our customers.”