Cashierless technology needs to work in more than just tiny spaces to become mainstream, and there are strong signals Amazon’s looking for different kinds of venues as it pursues its goal of opening 3,000 Amazon Go stores.
Processing Content
Amazon Go is seeking locations in airports, according to Reuters. Airports would provide a way to bring Amazon Go to spaces beyond the relatively small storefronts at Go’s early locations in Seattle, San Francisco, Chicago and New York. Amazon would not comment.
An turnstile entrance to the Amazon Go store is seen in Seattle, Washington, U.S., on Wednesday, Jan. 17, 2018. After more than a year of testing with an employee-only focus group, Amazon Go opens to the public Monday in downtown Seattle, putting to the test the online retailer's technology that lets shoppers grab what they want and leave without paying a cashier. Photographer: Mike Kane/Bloomberg
Mike Kane/Bloomberg
It’s also a technology-ready venue. Consumers frequently use mobile apps to check in for flights, so the habit’s already established. And mobile payment technology has been expanding at airports for years, with mobile pay deployments at LaGuardia Airport as early as 2015 and beacon-supported payments technology debuting at Atlanta’s Hartsfield-Jackson International Airport in 2015.
More recently, Alipay has established a presence in many U.S. airports and WeChat Pay has become a payment option at London’s Heathrow Airport. And Chase Pay on Friday announced a plan to expand its presence in airports through a partnership with airline payment network UATP.
Amazon is also looking at larger spaces for Amazon Go to accommodate larger stores, including Amazon’s own Whole Foods chain and larger spaces in the U.K.
Along with cashierless store development from fintechs and Walmart, the trend would tailor the technology for specific stores, rather than designing the stores to accommodate no-cashier checkout.
John Adams is executive editor of payments for American Banker. John interviews top executives in the payments, cryptocurrency and fintech... Read full bio
The regulator argues the plans were costly, too theoretical and ineffective, eliminating the financial crisis-era requirement as part of the Trump Administration's deregulatory push.
Thomas Owens, Trustmark's current chief financial officer, will take over as chief operating officer on May 1. The COO position has historically been a pathway to the top job at the Jackson, Mississippi-based bank.
Will Artingstall, global head of digital asset payments and ecommerce solutions within Citi's Services business, sat down with American Banker to discuss the firm's banking-as-a-service business and how it fits into its larger corporate payments strategy.
The bank's planned $142 million acquisition of Affinity Bancshares comes as war-related uncertainty appears to have slowed the industry's appetite for mergers.
American Banker data finds that a majority of executives investing in technology expect payments enhancements in the immediate future as well as further out.