Exploring impacts of IoT and PayTech convergence
Leveraging new IoT commerce opportunities
Securing the “invisible” payments
|IoT: An Emerging Payments Ecosystem?|
|Wearables & Smart Home|
|Retail & e-Commerce|
|Managing Consumers Identity|
|IoT: Building New Payment Experiences|
|Workshop Schneider Electric|
|Secure Techs for IoT Payments|
Payments can potentially be embedded in 5 billion connected devices: are IoT and Payments stakeholders ready? How IoT is Transforming the Payments Landscape? What role for the IoT and Payments stakeholders in the new value chain? Where are the revenues opportunities?
IoT payments involve new business models and collaborations between retailers, device manufacturers, technology companies and payment providers. Who are the leaders? What are the key challenges? How to overcome them? Are smart watches, trackers, ringsâ€¦ the new generation.
Forecasters predict 62 per cent of wearables will feature payment functionality by 2020. The increase in payment-enabled wearables is driven by demand for contactless and payments and improved security
â€˘Â A human-centric secured architecture to support the rapidly emerging wearable communication and computing markets for B2C and B2B use cas
â€˘Â Omni-channel shopping use case with smartwatch form factor: online connection to the Retail Web site, appointment with a sale assistant with check-in, check-out and EMV Payment, signature at delivery, after-sales services, certified reviewsâ€¦
â€˘Â The device mixes a sensor for biometric authentication, several channels for secured local communication (Body Communication Channel, BLE, NFC, UWB, ..) and certified application components such as EMV payment, FIDO U2F, PQC digital signature
â€˘Â Pay in contactless open loop by implementing new security standards
â€˘Â A fully secured autonomous ring
â€˘Â New way to pay to simplify interactions and enhance security
â€˘Â New form factors needed, payment scheme has to be adapted to new arrivals
As we are moving beyond current m-payment methods and traditional points of sale to IoT devices payments, how IoT fits into the omni-channel experience? From wallet to beacons, proximity payments pave the way to a new IoT era.
â€˘Â IoT with Connected Devices will transform the way consumers live, shop and pay. Analysis of key drivers of IoT development
â€˘Â When payment is embedded into Connected Devices – to pay or receive payments -, it will contribute to the ever-changing evolution of retail
â€˘Â Analysis of concrete use cases in 3 key segments: wearables, smart home and smart transportation
â€˘Â Connected Devices with payment capabilities become a platform for commerce and transact
Providing true seamless authentication – Blockchain and other enablers – KYC challenges
â€˘Â Why is Self-sovereign digital identity a promising approach to solve KYC requirements?
â€˘Â How can Blockchain be used as an independent infrastructure to facilitate identity management?
â€˘Â How can security of identity and personal attributes be achieved with ad-hoc personal hardware tokens?
â€˘Â How to simplify strong authentication for end-users
â€˘Â How banks can fulfill the PSD2/SCA requirements, without risking losing users
â€˘Â Data-driven authentication â€“ based on multiple parameters
â€˘Â Risk based authentication
As consumer-facing IoT solutions rise, consumers are beginning to adopt new ways of paying for good and services. What are the lessons of contactless/mobile payment for new IoT payments and commerce-related experiences. What do customers want from IoT and which players can give it to them?
As the Internet of Things moves closer to an everyday consumer reality, the payments and retail industries can adapt to a new era of convenience. As machines take over the task of making regular consumer purchases (for example fridges ordering groceries and bathrooms ordering toiletries), consumer behaviour is likely to alter drastically. eCommerce merchants should be looking towards the IoT as a source of great potential and new opportunities. However, it is also essential that they partner with a proven payments provider that can keep them at the forefront of payments innovation and that can ensure their and their customersâ€™ safety.
While AI, big data and robotics innovation are boosting IoT value propositions, a major issue remains unaddressed: to what extent will customers adopt and use these devices? Indeed, customers are facing a dilemma. On one side, the value proposition of seamless customized added-value services attracts while on the other side, the disclosure of highly sensitive data required by the IoT connectivity frightens especially when payment is involved. Based on recent examples and academic research, we will discuss key success factors to boost IoT adoption involving payment providing useful insights on value proposition design and customer relationship management.
New IoT-based payment services are poised to revolutionize the customer journey and the relationship with banks and retailers. When will this technology be efficient? How will IoT improve the knowledge of customer behaviour and customer journey? How to preserve and avoid that these objects become too invasive and cause a rejection of the customer? How to convince customers to download the associated applications or install the devices and then accept the use of their data? The panel will debate answers to accelerate the go-to-market and encourage IoT payments adoption.
From smart rings to connected cars, building trust in IoT payment devices and infrastructures is a key enabler of this emerging market. Security management, hardware and Cloud-based strong security approaches developed for m-payments need to be addressed at the IoT scale: huge challenges ahead.
â€˘Â By 2022, the global automotive IoT market will reach $82.79 billion â€“ but this growth comes with new risks
â€˘Â IoT security platforms allow automakers to assign a trusted identity to each device across the IoT ecosystem
â€˘Â Manufacturers must establish a trust infrastructure between payment networks and connected vehicles
â€˘Â Lab perspective on security in different mobile payment solution types (HCE, TEE, SE based payments)
â€˘Â Security in TEE and SE based payment solution and Biometrics, dependencies and lessons learned
â€˘Â Upcoming trends as mPOS and payment with wearables and IoT,Â elevant lessons from mobile payment (HCE, TEE, SE)
â€˘Â A consistent approach to the deployment and lifecycle management of NFC services
â€˘Â How to simplify the end-user experience when selecting NFC services for entities such as mobile wallet providers.
â€˘Â GlobalPlatformâ€™s Managing Entity Specification benefits for service providers and consumers
â€˘Â Payment Devices that operate in the IoT environment need to comply with 3 sets of requirements: General IoT/Cloud Computing Requirements, Device Manufactures requirements for protecting IP etc., Payment Card Industry Requirements
â€˘Â Integration of the different requirements in one smooth production process and on product maintenance over the life cycle