I recently saw an article (linked below) about Amazon and thought it might be of interest to the class.

Amazon is introducing a new payment method (which it is initially using in its own Amazon Go stores, but is ultimately intending to license to other retailers). The payment method works by the customer scanning their card and registering their palm to the system the first time they pay, and then simply scanning their palm to pay in future.

I thought this was relevant to our course because of the payments FinTech link, but also through the use of biometrics for security. I think it raises interesting questions about whether people are comfortable giving over their biometric information to a company like Amazon. Further, the article notes that Amazon will be collecting data on who uses the payment system --- this may allow them more power in moving into the TechFin environment in future. Overall it feels like a step towards the "pay-with-face" discussions we have had in class.

How do people feel about this new payment system? Do you think uptake will be large, and would you feel comfortable giving over biometric information to Amazon? I personally feel somewhat uncomfortable with companies like Amazon holding my biometric information, but suspect that it will become more commonplace in the future. I will be interested to see if the technology is brought across to Australia.

Article: https://www.vox.com/recode/2020/9/29/21492351/amazon-one-hand-scan-payments-palm-checkout-whole-foods