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Amazon Introduces Amazon One, a Contactless Payment via Palm

29Sep By PriyankaNo Comments

News

Amazon Introduces Amazon One, a Contactless Payment via Palm

Seattle, 29th Sept 2020- US-based eCommerce platform Amazon Introduces Amazon One, a contactless way for people to use their palm to pay at the store, entering a location like a stadium, etc. Amazon said the service is designed to be highly secure and uses custom-built algorithms and hardware to create a person’s unique palm signature." Amazon will use this service in select Amazon Go stores, where Amazon One will be added to the store’s entry gate as a convenient choice for customers to use to enter the store to shop. In most retail environments, Amazon One could become an alternate payment or loyalty card option with a device at the checkout counter next to a traditional point of sale system. The process takes less than a minute to sign up at these Amazon Go stores using an...

Amazon Opens Cashier less Grocery Store in Seattle

26Feb By AnkitaNo Comments

News

Amazon Opens Cashier less Grocery Store in Seattle

Amazon, an online eCommerce platform is opening its first cashier-less supermarket, the latest sign that Amazon is serious about shaking up the $800 billion grocery industry. Amazon on Tuesday opens up its new store in Seattle, where shoppers can grab milk or eggs and walk out without checking out or opening their wallets. Shoppers scan a smartphone app to enter the store. Cameras and sensors track what's taken off shelves. Items are charged to an Amazon account after leaving. Called Amazon Go Grocery, the new store is an expansion of its 2-year-old chain of Amazon Go convenience stores. At 10,400 square feet, the supermarket is more than five times the size of the smaller stores, and stocks more items beyond the sodas and sandwiches found at Amazon Go. The new market stocks fres...

Cashierless Store Operator Standard Cognition Acquires DeepMagic

12Oct By AdityaNo Comments

ACQUISITION

Cashierless Store Operator Standard Cognition Acquires DeepMagic

SAN FRANCISCO, Oct. 10, 2019-- Standard Cognition has acquired New York based startup DeepMagic. DeepMagic was founded by Bernd Schoner and Davi Geiger. Schoner will join Standard in a consulting capacity, to help manage the integration of DeepMagic’s technology into Standard’s platform. Standard Cognition was one of the first startups in the autonomous checkout space, and first to open a cashierless store in San Francisco. DeepMagic has developed strong computer vision technology that can identify individual items with outstanding accuracy and has deployed commercial systems in the US and Europe. The company also holds key patents dating back to 2016 covering important elements of autonomous checkout technology. “Both Standard and DeepMagic took a computer-vision only app...

Cashierless Store Startup raises $35 million

9Aug By AdityaNo Comments

FUNDING

Cashierless Store Startup raises $35 million

SAN FRANCISCO, Calif., July 25, 2019-- Standard Cognition, which is building the next interface of retail, announced today that it has raised a $35M Series B funding round led by the EQT Ventures fund (“EQT Ventures”) with participation from existing investors Initialized Capital, CRV and Y Combinator. This brings Standard’s total funding to date to more than $86M, and its post-money valuation to $535M more than a 2x increase since the company raised its Series A in Nov 2018. The funding enables Standard to continue to focus on making its early customers in the U.S. and Japan successful while growing the team and expanding both domestically and internationally. Jordan Fisher, Co-founder and CEO of Standard, said, “We really hit it off with the EQT Ventures team, and we’re incred...

Amazon Plans to Launch 3,000 Amazon Go Cashierless Stores

20Sep By Gauri SinghNo Comments

BUSINESS

Amazon Plans to Launch 3,000 Amazon Go Cashierless Stores

The retail giant Amazon has made aggressive plans of launching as many as 3,000 new Amazon Go cashierless stores in the next few years. The people familiar with the development stated that the company plans to open 10 such stores by the end of this year. These stores will further be expanded to 50 locations across major metro areas by 2019 and as many as 3,000 stores by 2021. At present, Amazon has three Amazon Go stores in Seattle and has announced one in Chicago with further plans to expand its operations in San Francisco and New York. The Amazon Go stores have no cashiers and allow shoppers to buy things with the help of a smartphone app. This makes the shopping experience easy for the customers and also saves their time that was required to stand in the queue. This concept is ...