Payments Podcasts UX

How will Amazon Go impact financial institutions?

Mike Lawson asks Jon Ogden from MX, which offers data-driven money management solutions, if Amazon Go is a friend or foe to credit unions.

Amazon Go is a completely new shopping experience … from the payments perspective. Here’s how it works: you go into a store, grab what you need, and leave.

Of course, there’s a little more (OK, a lot more) to it than that on the technology side, but to a shopping consumer, that’s essentially it. According to Amazon, Amazon Go is a new kind of store featuring the world’s most advanced shopping technology. No lines, no checkout – just grab and go!

To get to the bottom of this “too good to be true” shopping experience, we invited MX director of content Jon Ogden on the programme to explain. I first saw this topic in CU Times, covered in a column written by Jon, so we had to get him on the show to find out how this new evolution in payments will affect credit unions.

We asked Jon if Amazon Go is a friend or foe to credit unions, how prevalent this technology will be in the next couple of years, how this technology will benefit consumers, and much more. Check it out and let us know your thoughts. If you want to see how Amazon Go actually works, watch this video before you check out the interview.

You can listen to more episodes of CUbroadcast, and other fintech shows, on the BankNXT podcast page. Enjoy!

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– This podcast is reproduced with kind permission. Some minor changes may have been made to the text to reflect BankNXT style considerations, but the podcast itself is always unchanged. Read more here. Main image: Twin Design, Shutterstock.com

About the author

Mike Lawson

Mike Lawson is host of an online video interview show focusing on innovators and success stories within the credit union industry. His background is in teaching, marketing and communications, and includes roles as editor and reporter.

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