Monday, June 17, 2024

AI Startup Mashgin Partners with Biometric ID Provider Keyo to Add Contactless Pay By Palm Technology to Its AI Self-Checkout

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Mashgin, the world’s fastest touchless self-checkout system, announced a partnership with Keyo and its global biometric identity network. The partnership creates a self-checkout experience on par with solutions like Amazon Just Walk Out – but at a fraction of the cost, headache, and privacy concerns for retailers. The solution was recently rolled out at a large corporate dining facility, where it was used to speed up cafeteria lines. See a video of Keyo and Mashgin in action here.

The integration of Mashgin’s AI-powered self-checkout and the Keyo Wave palm reader empowers retailers to offer an additional, even faster way to pay using Mashgin kiosks. Customers leverage Mashgin’s AI-powered self-checkout technology and then pay with a contactless scan of the hand. Using the Keyo hand scanner eliminates the need for phones, wallets, or credit cards during checkout. Mashgin users who pay for their purchases with Keyo save an additional 15%-30% of total transaction time compared to conventional payment methods – pushing median checkout times for the combined solution to under 10 seconds.

Early data shows that customers love using Mashgin and Keyo together. In just three months, adoption rates climbed to 10%, an exciting result considering that only 5.8% of in-store transactions are paid with mobile wallets, a technology that’s been in use for nearly 10 years. Moreover, with over a 93% retention rate, nearly all users who tried Keyo and Mashgin stuck with it.

“Mashgin has already solved the problem of ring-up time – making it instant and effortless,” said Toby Awalt, Vice President Marketing at Mashgin. “Keyo does the same thing for the payment part of a transaction, making the whole process lightning fast.”

Also Read: Microsoft unveils new generative AI and data solutions across the shopper journey, offering copilot experiences through Microsoft Cloud for Retail

The combination of Mashgin and Keyo is a great option for cafes, concessionaires, and brick-and-mortar retailers who want a fast, frictionless experience without having to shoulder the financial burden caused by the expensive remodeling needed for most “just-walk-out” technologies. Mashgin’s countertop kiosk and Keyo’s hockey puck-sized biometric palm reader provide a more flexible solution that is equally convenient for shoppers and minimally disruptive to the retailer’s day-to-day business.

“Keyo’s contactless palm scanning is the future of fast and secure in-store payments and loyalty,” said Jaxon Klein, founder and CEO of Keyo. “Partnering with Mashgin creates a killer use-case for Keyo in the places where speed matters most, empowering retailers to create more personalized guest experiences while increasing throughput and allowing customers to skip the headache of digging for phones, wallets, and cards.”

Mashgin kiosks are already deployed at more than 3,500 U.S. locations, including convenience stores, major league sports stadiums and arenas, airports, ski resorts and corporate dining facilities. Using multiple cameras and computer vision, Mashgin kiosks identify food and goods with 99.9% accuracy and ring them up simultaneously.

Keyo Partners have already deployed over 15,000 Keyo devices for customers to pay at stores, check in for doctor’s appointments, and open office doors – all with a wave of the palm. The new integration between Keyo and Mashgin will expand the Keyo network by making this technology available to even more retail locations around the United States.



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