skip to Main Content

How 5G will benefit payments and mobile commerce

Amazon Go, a cashierless convenience store concept with its patented Just Walk Out technology, continues to expand its presence. Amazon also has expansion plans for Amazon Fresh grocery stores, which feature “Dash Carts,” shopping carts that automatically scan and load items placed there. Stores have sprung up near major cities, including Los Angeles and Chicago.

In September, Amazon also unveiled Amazon One fingerprint scanning technology that identifies customers at the entrance to the store. The company will seek to license these technologies to other physical retailers, which could significantly increase its footprint and accelerate consumer adoption.

Integrating Amazon’s accounts and payment systems with in-store technology, like computer vision systems and smart shelves, is part of the magic of its contactless stores, but not every store without a cashier does not. will not rely on computer vision technology. Shekel Brainweigh has developed a stand-alone retail store format with intelligent AI-enabled shelving systems that count inventory by weighing items on the shelves.

The technology works in tandem with a Hitachi Light Sensing and Telemetry (Lidar) system that uses light to measure the distance of objects for tracking shoppers instead of facial recognition, according to Guy Moshe, co- Founder and CTO of the Retail Innovation Division at Shekel Brainweigh. . The Casino Group is currently testing the store format in France. Stores can be placed anywhere there is a cellular network, including 5G, but Moshe expects them to cost less and require less computing power than stores that support computer vision.

Mobile payments

Shopping and check-out experiences that take advantage of computer vision, lidar, and other technologies for inventory management and customer identification are expected to become more common. We forecast that the volume of mobile payments in the United States will grow from $ 705.28 billion in 2019 to $ 2.541 billion in 2025 in mcommerce, proximity mobile payments and peer-to-peer (P2P) mobile payments. ). In short, mobile devices are becoming essential to enable payments to retailers.

With the increase in the use of mobile wallets, the bandwidth and latency benefits of 5G networks can help speed up the payment process, whether through contactless or proximity payment method. In addition, the use of SIM authentication through the cellular service provider (i.e. no Wi-Fi connection), as well as fast networks for processing biometric data for identification purposes. , also offer new opportunities to speed up the payment process while reducing the risk of fraud. and ensure that the transaction is secure.

Source link

Back To Top