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Introduction

As electronic payments continue to grow worldwide in both value and volume, players across the payments value chain are increasingly focused on streamlining the payments process.

Highlights

  • The more steps involved with any payment tool, the less consumers are willing to use it, which can lead to lost sales for merchants. Hence most payment providers are focused on removing as many of these payment frictions as possible.

Features and Benefits

  • Evaluates the current state of the Internet of Things in payments today.
  • Assesses the key drivers underpinning the growth of IoT in payments.

Key questions answered

  • What will drive the use of IoT in payments? Will this change the customer experience?
  • How nervous are consumers about IoT and payments?
  • What technologies are helping to drive the growth of IoT in payments? How important is tokenization?

Table of contents

Ovum view

  • Summary
  • Payments generally still rely on human intervention
  • IoT is the next stage of mobile wallet evolution
  • Privacy concerns may limit initial growth, but the market is wide open

Appendix

  • Further reading
  • Author

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