Amazon continues its war on waiting

The e-commerce giant has reportedly acquired mobile payment startup GoPago, a move that will help the retailer's association with 'never having to stand in line to pay -- ever.’

By Benzinga Dec 17, 2013 4:57PM

A parcel moves on the conveyor belt at Amazon's logistics centre in Graben near Augsburg, Germany, Dec. 16, 2013. © MICHAELA REHLE/Newscom/RTRBy Jim Probasco


How could one improve on a mobile app that lets customers use their smartphone to pay for merchandise while standing in line at a store? 


How about one that lets you pre-pay in the cloud, avoiding the line altogether?


According to TechCrunch, Amazon (AMZN) reportedly just acquired GoPago, a startup that offers such an app. This would put Amazon in competition with mobile payment company Square, eBay (EBAY) subsidiary PayPal and even major credit card companies like Visa (V) and MasterCard (MA).


More importantly, the move would help make Amazon the brand most identified with "never having to stand in line to pay – ever." Think about it: no standing in line to checkout at the grocery store, your favorite restaurant, or anywhere else for that matter.


The GoPago "pay before you arrive" idea was conceived in 2007 when co-founder Leo Rocco missed Barry Bonds's record-breaking home run while standing in line at a ballpark concession stand. Rocco felt there had to be a better, more efficient way to process transactions between retailers and customers. The result: GoPago.


The terms of the rumored deal with Amazon were not disclosed. The company first appeared on Wall Street radar after it was announced that JPMorgan Chase (JPM) had taken an investment stake in 2012.


Italian newspaper accounts that formed the basis for the TechCrunch report indicated that Google (GOOG) had also expressed interest in GoPago.


The newspapers also said it was not clear whether Amazon would hire any of the current 70 GoPago employees or if the online retail giant was merely buying the technology.


Amazon, which has in many ways lagged when it comes to mobile payments, was reportedly working on an "ambitious" new project, GoPago's other founder, Vincenzo di Nicola, told the Italian press. Exactly what that new project is remains a mystery, but the company recently launched a digital wallet service called "Log In and Pay with Amazon"
linked to a customer's Amazon account. GoPago fits nicely into a potential Amazon mobile payments master plan – especially one that includes a "never stand in line to pay again" option.


One other idea suggested by TechCrunch is related to a long-rumored smartphone launch by Amazon. With the reported acquisition of GoPago, Amazon's plans could include cell phones and Kindle tablets pre-configured to handle mobile payments through Amazon.


At the time of this writing, Jim Probasco had no position in any mentioned securities.


Read more from Benzinga:

30Comments
Dec 17, 2013 6:36PM
avatar
Also discussed. Amazon builds tractor beams that delivers food and beer straight to your couch.

Soon walking will be a thing of the past!!!

Dec 18, 2013 9:49AM
avatar
I have nothing but praise for Amazon. Great customer service, great prices, great technical support and every item has always arrived 2 to 3 days early. They have yet to mess up anything yet. The slave labor is my main gripe about Amazon. Sorry to those of you who have had bad experiences with them.
Dec 18, 2013 10:26AM
avatar
I just downloaded this app on my phone, but nobody local supports it.  I wish more retailers would get on board because I hate waiting for my bar tab when I have an empty glass.
Dec 18, 2013 10:10AM
avatar

Not waiting in line for something not in stock?

 

Amazon needs to wage a war on "Having"....

Dec 21, 2013 11:29AM
avatar
Why do so many bad-mouth Amazon? My guess, the complainers just hate successful companies.
Dec 18, 2013 2:58PM
avatar
i buy everything online. the only thing i stand in line for is the grocery store. been a longtime Amazon Prime member also. other than the layout of their online video webpage, nothing i could say bad about them. i recommend them to everyone.
Dec 18, 2013 2:59PM
avatar
How on earth is this not going to increase shoplifting?  How will the security tags get de-magnetized?  How many times a day does someone walk through the sensors, alarm bells ring and lights flash, and no one pays any attention?  So I imagine that the number of times this will happen in a given day, would possibly increase 10x.
Dec 18, 2013 11:37AM
avatar
Hey I love it although I know many people can't get ready for the new techie world but many embrace it with open arms and a smile.....bring it on as it only gets better from here.  
Dec 18, 2013 5:19AM
avatar
The problem with no exit checkout line is that people would walk out of stores with products they didn't pay for.  If an electronic tag -as is placed on some things now and will trigger an alarm if we walk out with it- is involved, it can be removed without notice much easier since you won't attract attention walking out of a store without going through a checkout line.
Dec 18, 2013 11:25AM
avatar
I'm proud of technology.  If it were not for emails, etc.  India might not even know of the strip search and cavity scratches of their diplomat in the US of A.  But, now, the good 'ole boyz in control of the washington taliban has created another enemy! Thank God!  India might just come over here and kick some ash.  If they do, maybe they will wear steel toes shoes!!!!!!!!!  But, wait!!!  Who from the taliban will head to India now with a planeload of cash they'll call "aid??"  Reckon they can buy their way out of this one?  I am sick of the ashholes in charge of this country.  And, now we find they've been over there drinking cheap whiskey!  I'm glad India took that away from them!!! Go, India!! Go, Baby, Go!!!! Take their pretzels too!!!
Dec 18, 2013 8:45AM
avatar
I think they need to go back to what they know. Then maybe what they ship will actually arrive on time. 3 for 3 this year. Each package 3-4 days late.
Dec 17, 2013 7:53PM
avatar
There is no value in Amazon. It's in the way of our recovery. Unplug it. 
Dec 17, 2013 7:18PM
avatar
DOWN with scamazon and bozo bezos they owe me money from a return and have yet to return it .. someone bust bzeos's knee caps...
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

ABOUT TECHBIZ

Start investing in technology companies with help from financial writers and experts who know the industry best. Learn what to look for in a technology company to make the right investment decisions.

RECENT POSTS

Would you pay $700 for Sony's new Walkman?

Hand-carved from an aluminum block, the 128-gigabyte ZX1 resurrects the iconic portable music player -- minus the cassettes -- for premium buyers in search of high-quality audio.

VIDEO ON MSN MONEY

RECENT QUOTES

WATCHLIST

Symbol
Last
Change
Shares
Quotes delayed at least 15 min

MSN MONEY'S