When it comes to making payments for goods purchased at retail stores, there are several options for users to consider. For example there is always the option of cash, credit/debit cards, and more recently, mobile payments where we can use our smartphones and smartwatches to make payments as well.
However, as some of you might have heard, Amazon is working on a new system that relies on hand recognition to authenticate users and facilitate payments. It was rumored that Amazon might be used at stores such as Whole Foods (which they own), but now a new report from The Wall Street Journal (paywall) has revealed that Amazon wants to sell this tech to other retailers as well.
What this means is that Amazon could not only use this platform in their stores, but they could also sell it to other stores where it could become like a new method of making payments. This would not be a first as previously, we have also seen other platforms such as Square make its way into some retail stores.
That being said, it could still be a while before we see this find its way into stores. The system is said to still be in the early stages and Amazon is also reported to be in talks with companies such as Visa for test transactions. There is also the question of how well-received such a system could be, since it would rely on biometric data, and we’re not sure how many customers are open to the idea of giving to stores and retailers.