Amazon, the Wall Street Journal reports, is hoping to sell retailers a Kindle-based retail checkout system, likely positioned like Square and other providers of mobile credit card reader systems.
The attraction would seem to be the access to customer data, not so much the lucrative payment terminal business.
But Amazon might also be thinking it can bring other "value add" to the systems, compared to existing offers from other established payment system providers. The immediate inducements could relate to offers, promotions or discounts, especially related to retailer sales on Amazon.com
Longer term, Amazon might eventually leverage other assets. Amazon Web Services could come into play, or possibly logistics support.
Amazon also reportedly is considering a mobile wallet service that would be used by consumers.
Wednesday, January 29, 2014
Amazon to Enter Retail Payments Business
Gary Kim has been a digital infra analyst and journalist for more than 30 years, covering the business impact of technology, pre- and post-internet. He sees a similar evolution coming with AI. General-purpose technologies do not come along very often, but when they do, they change life, economies and industries.
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