It would be easy to chalk up technological developments from Amazon(NASDAQ:AMZN) as par for the course. The company is perpetually throwing spaghetti on the wall to see what sticks.
A recent product unveiling, however, may mean far more than most realize.
The new device is the Amazon One, which can be used for contactless payments and is up and running in two Amazon Go stores. The device facilitates a completely hands-free interaction. Amazon says the palm print reader could also be utilized for things like granting access to restricted areas or in place of a loyalty card. Amazon is using it for its own purposes right now, but plans to sell the tech to third parties in the future.
Amazon One puts the e-commerce giant smack in the middle of a contactless shopping market that’s worth billions already, but could double in size in five years now that consumers