AN INTERNET OF PAYMENTS
“ The promise of productivity and collaboration with all these new devices can only come to fruition if they are safe and secure ”
— Yevgeny Dibrov , for smart , connected home living , as
CEO & Co-Founder , Armis
AN INTERNET OF PAYMENTS
The most tangible development trend being driven by IoT applications in the payment sector is an appreciable expansion of the payments acceptance network . In short , this means that – in much the same way that the last ten years saw every smartphone become a potential purchasing tool – the next few years will see any and all devices become platforms for purchasing goods and services . " From the comfort of their homes to the confines of their cars , people want to make purchases when they want and where they want ," commented Sherri Haymond , executive vice president , Digital Partnerships , North America at Mastercard . " Our familiarity of shopping with mobile and voice-activated devices have created the expectation for almost every device to be a way to shop and pay .”
To focus for a moment on what has become one of the flagship products
well as IoP development , Samsung ’ s Family Hub Smart Fridge allows users to shop and pay for on-demand grocery deliveries using the Instacart App , as well as order takeout through services like GrubHub . In the IoP age , everything from a household appliance to your car has the potential to become an endpoint for payments .
In the Automotive sector , both GM and Honda have released features which allow drivers to do things like make restaurant reservations , pay for goods and services like fuel , movie tickets and parking , all from the car ’ s navigation system . Honda ’ s Dream Drive demoed at CES 2019 and featured the car manufacturer ’ s collaboration with Visa , Mastercard and PayPal . Olabisi Boyle , vice president of IoT , at Visa commented : " Combining Visa ' s payment expertise and Honda ' s expansive platform , we are one step closer to transforming the car into a new epicenter for commerce ."
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