Amazon Launches Palm Scan Tech Payment Option In 200 Locations, Selling Software And Device Service

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  • Amazon.Com, Inc's (NASDAQ: AMZNpalm-scanning or cashier-less checkout technology has a presence in over 200 establishments in and outside the company.

  • Amazon is widening the deployment of its contactless technology with existing customers, Reuters cites Vice President Dilip Kumar in an interview.

  • Amazon, in June 2022, said more than 69 locations in the U.S. and U.K. had such technology.

  • Amazon also bagged new deals. On Wednesday, the U.S. cafe chain Panera Bread launched Amazon One devices, letting customers scan their palms to pay, for two locations in greater St. Louis.

  • Kumar said the deployment would expand to 10 to 20 Panera cafes in the coming months. A palm swipe would also let Panera extract restaurantgoers' rewards accounts and order histories. Kumar described the business model as selling software and devices as a service.

  • He said the expansion reflected demand for Amazon's contactless technology despite macroeconomic headwinds, emphasizing retention of existing customers during lean times. More than 50 of the installations were with independent retailers, stadiums, and university customers, and the rest were in Whole Foods and other Amazon stores.

  • This week, Amazon shared plans to slash 9,000 more jobs, including at AWS, totaling 27,000 cuts since November. He said the layoffs partly reflected "a tremendous amount of hiring" through the pandemic terming the current scenario as worse than the 2008 financial crisis.

  • Kumar said layoffs portended "no strategy shift" for AWS, which sells physical retail technologies and other enterprise applications.

  • Price Action: AMZN shares traded lower by 0.83% at $99.78 on the last check Wednesday.

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