Apple (APPL  ) may have launched their highly advanced credit card in August, but Amazon (AMZN  ) already has plans to outdo Apple and other companies in payment methods. Amazon is currently working on developing a new payment system for their customers. The popular online retail company wants to make payment as easy as a wave of the hand. With new technology, Amazon is working on linking people's credit or debit cards to their hands. By being able to identify people by the size and shape of their hands, Amazon hopes to incorporate their new payment system in Whole Foods Market stores.

Currently, Amazon is doing internal testing. At Amazon's offices in New York, employees experiment with the new system. Office employees are scanned by biometric technology that is integrated into vending machines to buy chips, sodas and other snacks. Unlike the scanners used on smartphones, Amazon's system simply uses computer vision to scan users' hands without physically touching a scanner. The system that scans users and collects their biometric data is called "Orville."

With cards, transactions take about three or four seconds. Amazon's hand recognition system has scanners that are accurate within one ten-thousandth of 1%. However, Amazon hopes to improve this to one-millionth of 1%. If the system works out correctly, Amazon's new technology can process transactions in less than 300 milliseconds. The system will make the process of checkouts even faster than before. According to New York Post, Amazon will release their new system early next year. However, in the beginning only Amazon Prime members will be able to use the system since their payment data is already recorded.

Amazon Go is Amazon's app-powered supermarket chain. Currently, Amazon Go is located in very few places like New York City and Seattle. Customers must download Amazon Go app to shop at this store. Amazon Go has an item tracking system that scans what items customers put in their cart. This system allows for fast shopping, but if Amazon's biometric system rolls out, Whole Foods Market's checkout process will be even quicker than Amazon Go's. With the new system, customers will not even need their phones. However, this system is just speculation. An Amazon spokesperson denied the rumors of the developing system. There is no guarantee of this new payment system, but if it does launch it will likely change the future of transactions.