The Internet of Things (IoT) is the next technology revolution which will enable physical world objects like appliances, cars, smartphones and various machines to connect to the internet and will usher an era of machine-to-machine communications (M2M) devices that will interact with human beings from a fridge ordering groceries to a industrial machine reporting a faulty part. The Internet of Things or IoT has made huge leaps and transitions that stretch far beyond simply being able to control the things around a user. The main focus of developers for IoT was to make daily tasks easier like adjusting the thermostat or playing music etc. But the priority has been changed now. The shift in focus is now mainly on the consumer shopping experience. With the help of payment providers like MasterCard, a new innovative way for consumers is available that is making online shopping easier and more convenient.
The Shift to an Internet of Commerce:
MasterCard leads the way for transition of the IoT into an internet of commerce. In October 2015, MasterCard came out with a new commerce for every device system that reaches further than just the smartphones and newer smart watches. How about being able to pay for your groceries right at the convenience of your refrigerator? Recently it was revealed that shoppers would be able to shop from their refrigerators. The smart refrigerator will also keep individuals and families busy in smart homes powered by IoT to open their fridge and construct a shopping list that they can order and pay right from their kitchen. The smart fridge was an innovative product that was released by Samsung and MasterCard.
The main concern with these new innovative ways to shop from home or anywhere is obviously security. With many new ways consumers will be able to shop from whatever appliance or device is closest to them. There have been measures taken to advance security protocols and supply users with additional safety measure to ensure they remain protected while using their smart devices.
This technology will expand across a variety of everyday items. Your vehicles will be fully loaded with a number of smart devices and easy payment methods. Already there are many cars available that utilize key fobs but this technology is being able to pay for minor car repairs, and sync radios only.
This shift of the Internet of Things into the internet of commerce utilizes the same ideology of the internet of things making it much easier, convenient and more secure to shop online. This new developing trend will allow consumers to use a number of handy devices to complete their shopping task in just minutes instead of hours. This can be highly favored among busy families or entrepreneurs who are constantly looking for ways to free up their time. With these new innovations, people can skip the checkout lines and frustrating trips to the grocery stores thereby saving time and money.