Daniel Berman/Bloomberg
It’s called Project Santos and it’s Amazon’s play to take on Shopify, PayPal and other point of sale systems. According to a report that examined internal documents from the online giant, the system will handle both online and in-store transactions, provide enhanced analytics and (of course) integrate with Prime and other Amazon technologies for check out, security and delivery. (Source: Pymnts)
Why this is important for your firm and clients: If your clients are in retail this will be another point-of-sale option for them, and as long as they don’t mind being dragged further into Amazon World it could be a more affordable and advanced solution for managing their inventory and sales transactions both online and in their store. Also keep an eye on the company’s Just Walk Out cashier-less technologies, which utilizes AI, sensors, and computer vision as customers walk into the store and sign into an app, insert a debit card, take items from shelves, and leave, skipping the need to check out entirely.