Technology giant Amazon is working to allow customers to connect their credit card information to their hands, so that they can scan for purchases with their palms at checkout areas in physical stores, people familiar with the project told The Wall Street Journal.
While Amazon’s plan is in the early stages, the company has reportedly begun working with Visa on testing out the terminals, and has discussed the project with Mastercard, JPMorgan Chase, Wells Fargo and Synchrony Financial.
The company previously filed a patent for a “non-contact biometric identification system” that features a “hand scanner” to produce a picture of a person’s palm.
The news offers a look into Amazon’s ideas on transforming the way people shop in brick-and-mortar stores, and how it could work with credit card companies to further integrate itself into people’s financial lives.
The company already has major plans to expand its Amazon Go stores, which allow shoppers to buy without cashiers or checkout, as well as its voice payment service called Amazon Pay.
Amazon will have to address concerns from card issuers and customers over how terminals would detect fraud and the amount of personal information the company will receive from the scans.
Data collected from the terminals would be stored on Amazon’s cloud and used to study consumers’ Amazon.com spending habits, according to The Journal.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
