Cash, Plastic or Hand? Amazon Envisions Paying With a Wave
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Cash,
Plastic or Hand? Amazon Envisions Paying With a Wave
Tech giant plans
terminals to let consumers link credit card information to their hands
ByAnnaMaria AndriotisJan. 18,
2020 8:00 am ET
Amazon.com Inc.
wants to make your hand your credit card.
The tech giant is creating checkout terminals that could be
placed in bricks-and-mortar stores and allow shoppers to link their card
information to their hands, according to people familiar with the matter. They
could then pay for purchases with their palms, without having to pull out a
card or phone.
The company plans to pitch the terminals to coffee shops,
fast-food restaurants and other merchants that do lots of repeat business with
their customers, according to some of the people. Amazon declined to comment.
Amazon, like other tech companies, is
trying to further integrate itself into consumers’ financial lives, leaving
banks and card networks on edge. Apple Inc.introduced a
credit card last year, and Google is rolling out checking accounts. If the Amazon
terminals succeed, they could leapfrog mobile wallets such as Apple Pay while
expanding Amazon’s already-extensive access to consumer data.
Amazon’s projects are closely watched
both by tech and financial companies, which are increasingly colliding in
payments. Amazon has been experimenting with payments at its Amazon Go stores,
where customers can walk out without stopping to pay. It has also been building
out Amazon Pay, a digital wallet that consumers can use to make payments at
online merchants not owned by Amazon. Chief Executive Jeff Bezos has stressed the importance of financial
services and payments to some senior executives, The Wall Street Journal
previously reported.
The plans for terminals are in early
stages. Amazon recently began working with Visa Inc. to
test transactions on the terminals and is in discussions with Mastercard Inc., according
to some of the people.
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