Pay

Amazon wants to turn your palm into a wallet — the next frontier of frictionless payments

Snacks / Tuesday, January 21, 2020
_OMW to make an Amazon purchase_
_OMW to make an Amazon purchase_

Hands-on is the new hands-off... Amazon is creating check-out terminals that put your payments (literally) at the palm of your hand, according to WSJ sources. Gives "palm reading" a whole new meaning. Here's how Amazon's handy payments go down:

  • Palm: Amazon patented a "non-contact biometric identification system" that scans your hand.
  • The idea: Link your credit card to your hand print so your hangry self can breeze past the Sunday morning bagel line.
  • The real customer: Amazon's pitching these terminals to physical fast food spots and coffee shops that you visit repeatedly.
  • Credit Collab: Amazon's already working with Visa (and is in talks with Mastercard). It's also in discussions with card issuers like JPMorgan Chase, who's wondering whether to collab with a potential competitor, or risk being cut out.

It's getting out of hand... How far is too far when it comes to convenience? This hand-scanning thing would just shave down the time it takes you to pull out your phone or plastic (honestly, cool if you're shopping while on a jog). Your palm-info would still have to be transmitted and processed. Is saving a few seconds worth giving up more personal info to Big Tech?

If money talks, spending screams... More info on your shopping habits could mean better targeted ads — and tech can charge advertisers more $$$ for that. It also means actionable info on what you actually splurge on, which Amazon could use to stock its ecommerce site. That's why Big Tech is pushing deeper into customers' wallets:

  • Amazon: Launched Amazon Pay and checkout-less Amazon Go stores
  • Apple: Shipped Apple Pay for mobile and its own Apple titanium credit card
  • Google: Has Google Pay and will begin offering checking accounts this year

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