The times they are changin!
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The world of food stamps is about to go high-tech, and it may turn the grocery industry on its head.
The U.S. Department of Agriculture is testing a pilot program this summer that will allow seven online grocery stores to accept food stamps, including online retailing giant Amazon.com (AMZN). The two-year program will test online ordering and payment, with the USDA noting that online food-stamp purchases need ?a higher level of security? because of the risk of fraud. The agency said it would like to roll out the program nationwide and add more retailers.
The program, while modest in its initial phase, has the potential to shake up the $800 billion grocery industry. About 43 million low-income Americans rely on food stamps, officially called the Supplemental Nutrition Assistance Program (SNAP), for $66.6 billion in annual grocery benefits. Amazon?s participation may seem like an unusual strategy, given that it has emphasized its $99 annual Prime program, which is geared to solidly middle-class consumers. Yet Amazon has also been pushing into the grocery business, with plans for check-out-free stores and online delivery services.
Amazon to accept food stamps
---
The world of food stamps is about to go high-tech, and it may turn the grocery industry on its head.
The U.S. Department of Agriculture is testing a pilot program this summer that will allow seven online grocery stores to accept food stamps, including online retailing giant Amazon.com (AMZN). The two-year program will test online ordering and payment, with the USDA noting that online food-stamp purchases need ?a higher level of security? because of the risk of fraud. The agency said it would like to roll out the program nationwide and add more retailers.
The program, while modest in its initial phase, has the potential to shake up the $800 billion grocery industry. About 43 million low-income Americans rely on food stamps, officially called the Supplemental Nutrition Assistance Program (SNAP), for $66.6 billion in annual grocery benefits. Amazon?s participation may seem like an unusual strategy, given that it has emphasized its $99 annual Prime program, which is geared to solidly middle-class consumers. Yet Amazon has also been pushing into the grocery business, with plans for check-out-free stores and online delivery services.
Amazon to accept food stamps
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