Started with blockchain, now we look at Internet of Payments! IoP is the newest kid on the block backed by IoT with Circle securing its spot on the innovation list.
The evolution of the payments industry and payment infrastructure, on the whole, has been astonishing, given the strain put on all the industries by the coronavirus pandemic. The payments arena, in particular, had to undergo significant digital transformation to keep up with the changing customer behavior and geographical barriers. Today, one can make an international payment, with a single click and it will be done within seconds, while there was a time when cross-border payments would take days if not weeks. And one technology now is reforming this sector to go beyond limits, it’s called the internet of payments. The Internet of payments is the latest and the most advanced kid in the block.
What is the Internet of Payments?
We’ve all heard of IoT and its mighty impact on industries, but what is the Internet of Payments and what is it doing that it has become a major buzzword today?
WELL, THE INTERNET OF PAYMENTS IS THE TECHNOLOGY THAT ENABLES YOUR IOT DEVICES TO PROCESS PAYMENTS.
Read More on website @ IoT in Fintech – The Future of Payment Processing