So Amazon is opening a new store where you don't have to pay for anything; you just go in, pick up what you want, and leave, and your purchases are automatically charged to your Amazon account via an app on your phone.
I think this is a terrible idea. I have documented previously why I am anti-Amazon, but I would think this was a bad idea no matter who came up with it.
First, the system relies on extensive surveillance, more than I am comfortable with experiencing in a public place. A series of cameras and microphones as well as tracking software is needed to make this experience seamless for the end user, but surveillance technology is still not perfect, and I see this system as rife for abuse. (Good information about that technology here, but be warned that video and audio autoplay when you load the page*.)
Second, all of this technology replaces real, actual jobs that could be employing human beings. And at least in the beginning, that technology is going to be more expensive than humans, so there will not be any real savings to pass along to the consumer. I expect that Amazon will operate as it has before and take a loss on products to establish itself, then take a monopolistic approach to its vendors, forcing them to operate on its terms.
Third, and most important from a personal finance point of view, is that removing the barrier of paying means removing the psychological understanding of what has transpired in the transaction. We already know that paying with a credit card causes us to buy more than when we spend cold, hard cash. What will happen when it doesn't feel like we're paying anything at all? I presume the app would allow you to see your total as you shop, but the video makes it look like you don't need to think about what you're spending at all, and that's dangerous territory.
*Which was a good incentive for me to install a browser extension that blocks that from happening. It worked so nicely that I'll be installing one on all the browsers on all the computers that I use regularly.