Are “Invisible” Technologies the Key to IoT Payments in Retail?

Chargebacks911® COO Says Payments Must Balance Customer Expectations and Security

Contemporary consumers want easy and seamless experiences, without having to think too much about what goes on behind the scenes. At the same time, they expect their data to be kept safe. In her latest feature for IoT For All, leading payments and fintech expert Monica Eaton-Cardone suggests that this is within reach, with the help of IoT technology.

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As Monica points out, some brands are leading the way in bringing IoT technology to the payments space. She spotlights Disney’s MagicBand technology, as well as the Amazon Go store. However, these examples are just the beginning.

We still have plenty of room to grow and expand IoT tools into the payments space. However, this must be done carefully and with an emphasis on keeping up with security best practices. “As with any new technology, we can’t rush into the invisible approach to IoT payments without the right protocols in place,” Monica says. “Security is—and should always be—a primary concern.”