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Report: Amazon developing palm-scanning payment method

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Report: Amazon developing palm-scanning payment method Inc. is developing a system that allows customers to pay with their palms by linking their credit card information to their hands, The Wall Street Journal reported Jan. 19, citing sources.

The report comes shortly after the e-commerce company filed a patent for a "noncontact biometric identification system" and "a hand scanner that generates images of a user's palm."

The project is at an early stage, though Amazon is working with Visa Inc. and is in talks with Mastercard Inc. to test the system, the report said. JP Morgan Chase, Wells Fargo and Synchrony Financial are also interested in the payment technology, which would be placed in brick-and-mortar stores, coffee shops, fast-food restaurants and other businesses that have repeat customers.

Amazon will retain user data, including frequented shops, to integrate into the consumer's account. Using customer data could allow Amazon to charge advertisers higher prices by connecting them with users most likely to purchase their products, the report added.

Amazon did not immediately respond to requests for comment from S&P Global Market intelligence.

Amazon's other payment and in-store technologies include Amazon Go, a checkout-free brick-and-mortar grocery store, and digital wallet Amazon Pay.