Snacks, sodas, and sandwiches line the shelves of the Amazon Go store. It looks like a normal place to grab a quick meal. But there are no cashiers in sight. To get in, you scan your phone at a kiosk. Small black cameras in the ceiling watch what you take off the shelves. When you’re done, you simply walk out the door with your items. A few minutes later, your phone buzzes with your payment receipt.
Amazon opened its first cashless market last year at its headquarters
in Seattle. Now there are also stores in Chicago and San Francisco. It’s part of a growing number of businesses that are ditching cash in favor of mobile payments. “People find it very convenient, particularly younger people,” says Kenneth Rogoff, an economist at Harvard University.
Between debit and credit cards and mobile payment apps, there are more ways than ever to avoid using coins and paper money. Could that mean that cash is becoming a thing of the past?
There are snacks, sodas, and sandwiches on the shelves of the Amazon Go store. It looks like a normal place to grab a quick meal. But there are no cashiers in the store. To get in, you scan your phone at a kiosk. Small black cameras in the ceiling watch what you take off the shelves. When you’re done, you simply walk out the door with your items. A few minutes later, your phone buzzes. You’ve received your payment receipt.
Amazon opened its first cashless market last year. That store is at the company’s headquarters in Seattle. Now there are also stores in Chicago and San Francisco. They’re part of a growing number of businesses that don’t take cash—only mobile payments. “People find it very convenient, particularly younger people,” says Kenneth Rogoff. He’s an economist at Harvard University.
There are more ways than ever to pay without coins and paper money. People can use debit and credit cards or mobile payment apps. Could that mean that cash is becoming a thing of the past?