Reuters recently reported that Walmart was testing an iPhone-based self-checkout at a store near its headquarters.  Consumers scan items as they're placed in the physical basket, then the virtual basket is transferred to an existing self-checkout station where payment is tendered.  A very solid solution, but not exactly original.

Before we go further, let's look at the possible cost savings for Walmart.  According to the article:

In my previous post, I mentioned the importance of determining the location of a consumer using their mobile phone.  Retailers can track anonymous mobile phones to determine traffic patterns both inside and outside their stores.  And with consumers' permission, retailers can send location-aware offers to mobile phones; for example, a coupon for cereal as you walk down that aisle.  When paying with Square, your location is matched with the transaction.  So there are Aug 30, 2012 8:37am

• Oracle Retail

In order to sell a new product, you have to solve a problem.  Emerging payment methods, by themselves, aren't really solving any problem.  What's the pain point? Credit and debit cards work just fine (although EMV certainly helps reduce fraud, and retailers would love lower rates).

Regular readers know I'm a big fan of Bezos at Amazon.  In fact, I commented on Amazon over at RetailWire just today.  Well now Amazon has taken the next step, and launched Amazon Yesterday Shipping.  Take a look at the video below: