While Amazon One mainly serves the Amazon ecosystem stores in the US, startup Handwave wants to bring palorie vein scanning technology to many independent retailers in Europe. This technology allows customers to pay by waving their hands, without a phone or card.
Handwave develops its own hardware, software, and builds an open system that can be integrated with any bank or financial institution. They have cooperated with a number of large units in Europe, including Visa. Prioritizing the EU market, Handwave aims to meet more stringent security standards than the US, while optimizing costs to compete.
With headquarters in Latvia - where there are a team of experienced engineers and low operating costs, the company has raised $4.2 million and started testing at stores. Despite the great potential, Handwave's leadership admits that whether consumers accept this form of payment is still a question mark.
