mobile payments — Lanton Law Blog

Bi-Partisan Political Controversy Surrounding Cashless Stores

On January 30th, the U.S. House Committee on Financial Services held a hearing titled “Is Cash Still King? Reviewing the Rise of Mobile Payments.” The Committee headed by Congresswoman Maxine Waters (D-CA) held this hearing to determine whether businesses should be allowed or prohibited from refusing cash payments in stores. The policy rationale behind the debate is whether cashless stores would have the unintended consequences of harming marketplace access for low-income Americans who do not have a bank account.

finance, banking, fintech, technology, healthcare, life sciencesRon LantonFebruary 3, 2020cashless payments, mobile payments, Payment Choice Act of 2019, Cash Always Should be Honored Act

Amazon’s Hand Scanning Points to the Need for Biometrics Policy

Recently, we have learned of Amazon’s new hand scanning idea to revolutionize consumer interactions via fintech. The idea would involve creating a payment system that would biometrically scan a user’s hand to transfer payment from the user to Amazon, instead of via a credit card, phone application or cash. New point of sale terminals equipped with this technology would be placed in brick and mortar stores so that customers can “travel lighter” by not having to worry about carrying physical payment forms.

fintech, healthcare, IoT, life sciences, technologyRon LantonJanuary 27, 2020biometrics, privacy, data privacy, Amazon, mobile payments, digital payments