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).
Creator commerce platform LTK raised $300 million in a recent funding round, now valuing the company at $2 billion. LTK is the world's largest influencer marketing platform and is known for helping to pioneer the so-called 'creator economy.' The company helps content creators make money off of their social media posts by hosting them on one central marketplace. LTK says more than $3 million in products are bought each year on its website and app. Now, the company is looking to continue its growth. LTK co-founder and president Amber Venz Box joins Cheddar News' Closing Bell to discuss.
Microsoft recently announced the standalone Teams Essentials as businesses continue to update their practices for the new norm of hybrid work life. Jared Spataro, corporate VP at Microsoft Modern Work, joined Cheddar to talk about solutions the tech giant has rolled out in order to help underserved small and medium-sized companies continue operations seamlessly. "We're excited about the opportunity to serve their needs better, and that, in particular, is focused on their meeting and communication needs," he said. "We start with Teams, which has been a wildly successful product for us up in the enterprise space, and now we have created a form of Teams that is particularly suited for small businesses."
No matter what you're in the market for this holiday season, there is one way that you can put some cash back in your pocket and stretch your gift budget a little bit further this year. With Lolli, for every gift you buy for someone else, you get the gift of free bitcoin back. CEO of Lolli, Alex Adelman, joins Cheddar News.
Iwao Fusillo, Chief Data & Analytics Officer, GM, joins Cheddar News to dispel myths and cut straight to the facts about GM's role in an all-electric future.
Over the Thanksgiving holiday, Elon Musk warned SpaceX employees in a leaked email that the company could be forced to file Chapter 11 bankruptcy if its raptor engine program fails. Musk then commented on the previous statement adding the detail that a recession could make such a bankruptcy possible.
Goldman Sachs is rolling out an Amazon Web Service for trading firms called GS Financial Cloud for Data with Amazon Web Services. The move comes as Wall Street looks to keep up with today's evolving tech.
Online ad-tech company Innovid made its public debut on the New York Stock Exchange. CEO and co-founders Zvika Netter joined Cheddar's "Opening Bell" to discuss factors that drove the company to launch an IPO via a SPAC deal. He noted that the rapid growth of connected TV advertising (CTV) made it an opportune time for his business to go public. While the company is profitable, Netter also explained the various avenues it will take to increase total revenue.
Reese Mozer, CEO and co-founder of American Robotics, joins Cheddar News to discuss innovations in edge computing and how drone technology can maximize its potential.