There is currently no information on the checking accounts too much, familiar with the matter, the source told The Wall Street Journal, "This work is still in its infancy and may not be realized."
Cutting off the middleman seems to have become the company's usual practice. Amazon has recently turned its attention to the transportation industry, which may bring problems for FedEx and UPS. However, federal regulations make the banking industry a complex industry that is difficult to access. This can explain why Amazon is looking for a friendly partner.
As a special candidate, JP Morgan Chase chief executive Jamie Dimon and Amazon's Jeff Bezos recently spent some time with Warren Buffett in elaborating a new partnership to reduce healthcare costs.
Amazon may want some relief from credit card and debit card processing fees, but the ultimate significance of an end-to-end banking solution is that it opens up the treasure trove of financial data to the company. With its powerful machine learning algorithms, the company can leverage financial information to better tailor the Amazon.com experience to individuals.
This may be Amazon's future plans: