13 September 2021

Amazon is developing its own point-of-sale solution 

Written By FinTech Alliance

Amazon is developing its own point-of-sale solution 

Amazon is reportedly working on its own point-of-sale (POS) solution, according to Insider.

In Brief:

It’s being developed under the now revealed “Project Santos”. 

This taskforce was launched last year with the aim of competing against giants like Shopify. 

Insider says the solution will enable third-party retailers to process transactions online as well as in shops. 

What does this mean?

Amazon, which currently works with partners to enable payments, is hoping to build its own point of sale system to add its own “Amazon checkout” option across many of its services. The aim, according to Insider’s report, is to enable small and medium businesses to offer a seamless experience as well as making the most of payments data. 

Read more here. 

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