CONNECTED DEVICES ARE CHANGING THE WAY WE OPERATE.
We can soon expect integrated household operating systems that coordinate all appliances under one management platform, becoming a ‘smart’ home rather than simply a ‘connected’ home. Our lives as smart home consumers are about to get easier and the key to this success of this network will be the integration of a secure, accessible payment processes.
ECOMMERCE IS EVOLVING TO INCLUDE MACHINE-TO-MACHINE TRANSACTIONS.
We are headed towards a world where consumers, and sometimes even their machines, complete certain transactions automatically on a regular or semi-regular basis. Retailers must be ready for these changes in order to capitalize on the opportunities that these developments present.
SECURITY WILL BE A VITAL
The dilemmas that arise from the intersection of technology, privacy and security are not new and given the technological developments we are looking towards, they should not be ignored or taken lightly. Payment processors will play a significant role in helping to maintain consumers’ trust in the purchasing process through the IoT.
IS YOUR ONLINE BUSINESS GETTING READY FOR THE INTERNET OF THINGS?
Retailers will have much to consider when it comes to the opportunities and risks associated with M2M commerce. Much is still unknown about the future of retail in the IoT age. But when it comes to payments and eCommerce, we have a clear vision and are headed in the right direction.