IBM and Visa are designing Internet of Things (IoTs) with shopping features. Their plan is to make every Internet-connected device a point-of-sale machine. IBM’s Watson and Visa’s token technology will be used to do this. Nearly 60% of all payments around the world rely on Visa payment processing. Beta News provides an interesting example of IoT payments – running sneakers that order new sneakers when they wear out. Here’s more info on the future of shopping from the general manager of IBM Watson IoT:
IoT is literally changing the world around us, whether it’s allowing businesses to achieve unimaginable levels of efficiency or enabling a washing machine to ensure we never run out of detergent. And behind this transformation are companies like Visa and technologies like IBM’s Watson IoT platform.
This combination of IBM’s industry leading IoT technologies with Visa payment services, signifies the next defining moment in commerce by allowing payments on any connected object, with new levels of simplicity and convenience for everyone.
– Harriet Green
An executive vice president at Visa said this:
The Internet of Things is not only driving a more connected world, it’s changing the way we live, shop and pay, by moving data and the point-of-sale to wherever the consumer wants it to be.
With the power of Watson’s cognitive technologies and IBM’s leadership in IoT and security, they are the ideal partner to help us deliver secure payments to ‘virtually anywhere’ and on the enormous scale of the IoT.
Source: Beta News