The internet has always been an Internet of “Things.” You can see things, read things, connect to things, and even buy things. The word “things” probably sounds funny to you now. Say it out loud. Okay, moving on… nowadays, you are able to use the internet to securely buy products, manage your money, as well as several other options. That’s because we’re not connected enough, and our lives just aren’t as fast-paced as they could be. We NEED this. But really, progress is being made by companies like MasterCard with its Commerce for Every Device Program. The program was launched last October and is taking internet-capable devices and the Internet of Things itself from simple connectivity to high-functionality.
In the 29th Mobile World Congress that took place in Barcelona, the main conversation was about the new focus of the Internet of Things and Commerce. With MasterCard’s new program, the company brings secure payments to a wide array of devices: fashion or wearables, autos, technology, and anything else that can be imagined. It gives consumers the freedom to choose whichever THING is most convenient to shop with, and it will give the power of purchase to that device. This innovation was spawned by the maturation of online payment services and the boom of internet capable devices. So what does it all mean? It means that MasterCard will be partnering with lots of different companies to create new ways for you to pay for THINGS.
Some of the first projects that are being rolled out are partnerships with automaker General Motors, designer Adam Selman, smart jewelry company Ringly, Bluetooth locator TrackR, and wearable technology company Nymi; with products for virtually every lifestyle need. Exclusive fashion designs from Adam Selman, a key fob from GM, a wristband from Nymi, and a ring from Ringly are the devices that will be enabled to make payments with maximum security. GM even has plans to develop an in-car payment system that will allow users to purchase things using the dashboard console, just like they would change the radio station.
We are already a hyper-connected world, and according to Cisco, by 2020, there will be 50 billion connected devices! On the horizon, there are plans to make smart refrigerators, from which you can order and pay for your groceries, connected washing machines, and pretty much any device we use could become like a little (or big) debit MasterCard! This program is an extension of the MasterCard Digital Enablement Service, and the vision is to make ANY device payment-enabled, so be careful where you point your smartwatch, you might be buying something with it soon!
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