Microsoft Explores New Ways to Pay, Fighting Off Amazon In-Store and In the Cloud
*By Alisha Haridasani*
Microsoft is reportedly exploring how to automate cashless check-out at brick-and-mortar retailers in a bid to challenge Amazon not just in-store but in the cloud.
The technology would track what shoppers add to their carts and bill them automatically after they walk out of a store, according to a [Reuters](https://www.reuters.com/article/us-microsoft-store-exclusive/exclusive-microsoft-takes-aim-at-amazon-with-push-for-checkout-free-retail-idUSKBN1JA0D5) report on Microsoft's plans. The tech giant is in talks with Walmart and other retailers about potential collaborations, the report said, citing people familiar with the effort.
Microsoft's effort to develop a new payment model comes almost five months after Amazon opened its first [Amazon Go](https://www.nytimes.com/2018/01/21/technology/inside-amazon-go-a-store-of-the-future.html) store in Seattle, where cameras and sensors track what shoppers pick up and then bills their online account, eliminating cashiers and the long lines that snake around them.
Microsoft is exploring a number of ways it can make this payment system work, including installing cameras in shopping carts instead of on shelves, as Amazon does, said Jeffrey Dastin, the Reuters technology correspondent who first reported the story.
"The reason that it has looked into this is, of course, that some of the technology that Amazon Go has introduced is a bit expensive," said Dastin. "This is a reaction to retailers not being so sold on the technology that Amazon has put forth and maybe this is a go-to-market strategy that's faster."
Amazon’s new technology, and the potential to put it to use in its Whole Foods stores ー the online retailer acquired the grocery chain last year ー has scared other grocers who fear the combination of online disruption of retail and in-store convenience will further eat into their business.
The challenge has prompted other players, including Walmart, to innovate their [online](https://cheddar.com/videos/jetblacks-competitive-advantage-time-savings-and-a-human-touch) and [in-store](https://cheddar.com/videos/walmart-upgrades-digital-services-to-boost-in-store-experiences) operations.
Microsoft's decision to develop this technology is driven by its ambitions to boost its cloud business, said Dastin. "What Microsoft essentially is doing here is becoming more than just an IT provider and becoming a strategic ally to retailers," he said.
The cameras and algorithms associated with the technology would ultimately use Microsoft's cloud business, but it would also provide retailers with data on consumers that can help them stay competitive, said Dastin.
"This is securing cloud revenue growth and at the same time securing long-standing relationships with a major vertical."
For the full interview, [click here](https://cheddar.com/videos/microsoft-developing-cashierless-tech).
Facebook parent Meta officially has changed it’s ticker symbol from ‘FB’ to ‘META’. Paul Meeks, a portfolio manager, Independent Solutions Wealth Management, and a professor of practice in the Baker School of Business at The Citadel, joined Cheddar News to discuss why the tech giant has had to make big changes to its name, its ticker, and its business plans. "When you see what's happening in digital advertising — and there was a slowdown there even before the threat of a recession, which could cause a even more drastic slowdown next year — they had to pivot," he said. Meeks noted he sees Facebook dominating in the metaverse space going forward — whatever that may end up being.
In a recent Bumble survey, more than a third of respondents revealed that they would be willing to date people in other cities. Shan Boodram, a sex and relationships expert for the app, joined Cheddar News to talk about the long-distance dating trend and tips on how to go about taking part. "I think this is the magic of what we experienced over the past couple of years, is that we have already learned the tools necessary to stay connected with people despite not being able to be close to them," she noted. Boodram also pointed to Bumble's travel mode and using video conferencing in order to ease into such relationships.
On this episode of Cheddar Innovates: CEO of Achieve Life Sciences discusses a new plant-based compound that's being used to fight nicotine addiction; President & CEO OF DiaMedica Therapeutics explains a new ischemic stroke treatment option that expands the window for effective therapy for stroke patients; Cheddar gets a look at Curiosity Stream's 'Asteroid Rush.'
We are already starting to feel the effects of summer. Heat waves in Texas and California are already sending temperatures soaring. That could spell trouble for the nation's power supply. there are new concerns about outages in many areas of the country. Cheddar's Shannon Lanier explains the two main causes of blackouts, and what states are doing to keep the lights on and the air conditioning running.
U.S. stocks close Tuesday at session highs after a subpar start to the trading day. Tim Chubb, Chief Investment Officer at the wealth advisory firm, Girard, joins Cheddar News' Closing Bell to discuss. 'We're starting to see the moderation of three core things -- we've seen the moderation of prices, we've seen the moderation of wage growth we've seen in the labor market, and we've also seen a moderation of job openings,' he says.
CreditCards.com senior industry analyst Ted Rossman compares the Apple Pay Later offering to similar four-step processes at Affirm and Klarna, and says this is a way for the tech giant to dive deeper into the financial industry.
Tech analyst Rene Ritchie discusses new EU legislation that will force iPhones to use a USB-C charger in fall 2024 and what that means for Apple's strategy in Europe.
