IBM and Visa will turn IoT devices into payment terminals



    IBM has joined forces with the Visa payment system to work within a large project, the purpose of which is to combine the IoT sphere, cognitive technologies and remote payment for goods and services. The practical result of the project, as the authors see it, is to ensure the possibility of payment for goods and services for the consumer using any devices connected to the Internet. Among such systems are smart cars, household appliances and other gadgets.

    The duration of the project is five years. During this time, partners plan to develop a reliable and practical payment system using IoT and Watson. The system will promptly evaluate customer inquiries and habits. Based on the data obtained, a cognitive payment system can give advice and recommendations on spending money, finding the right products, showing different price variations of the same offer from different companies. With the Watson IoT Platform, more than 6,000 IBM partners are currently working.

    According to IBM and Visa, the development of financial services is impossible without artificial intelligence. By 2020, analysts say, more than 20 billion different devices will be connected to the system now being created. We are talking about smartphones, smart homes, cars, smart devices. “The combination of leaders in the field of high technologies and payment services stimulates the development of a new stage in the market for goods and services, which will allow making payments through any connected device. The user will be able to get at his disposal a service with a new level of practicality and security, ”says Harriet Green, director of IBM Watson IoT.

    As an example of the operation of such a system, you can bring an on-board car computer that is connected to the Watson IoT. He will monitor the status of individual parts of the car. If a problem arises, the on-board computer will let the owner know about the need to replace parts / assemblies, oil changes, etc. This part or service can be ordered immediately using the same computer, without leaving the car. Similarly, it will be possible to extend the insurance.


    Another example concerns an active lifestyle. For example, a jogger with a smart bracelet receives information that the sneakers are worn out (a microchip is sewn into them). Accordingly, a fitness bracelet or phone allows you to immediately order new sneakers, choosing the best price in stores.

    “The Internet of Things will not just make the world connected, it will change our lives, including such areas as payment for services and services,” said a representative of Visa Inc. “With the capabilities of Watson’s cognitive technology and IBM’s IoT and security capabilities, we can launch a secure payment system“ from everywhere ”.

    In such a system, all payments will be made centrally through the IBM Cloud service. All data about customers who have connected to the IBM and Watson service will be stored in the same cloud, so that each customer can receive the service or product at the maximum speed and at the lowest price. For security, we plan to use Token Service from Visa, which allows you to keep all data about the client and the financial details of his transactions secure.

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