DUBLIN, Jan. 30, 2020 /PRNewswire/ — The “IoT Payments: How the Internet of Things Is Influencing Payments” report has been added to ResearchAndMarkets.com’s offering.

The internet of things, shaped from advancements in technology, has resulted in an exponential rate of devices (things) connecting to the internet. 

This expansion of connections and data collection enables more processing powered by artificial intelligence to augment our daily decisions and abilities. Both consumers and merchants are capitalizing on this technology, with the strategic applications changing the way consumers and merchants transact.

IoT Payments: How the Internet of Things Is Influencing Payments provides a foundational framework for categorizing payments by bridging payments and technology to define and analyze four basic payment modes: in-person, online, recurring, and IoT payments.

Consumers and merchants are rapidly adopting technology and utilizing the IoT, further digitizing their relationship.

Prior to this research on the topic, there was no concrete definition of the concept IoT payment, and thus it was impossible to analyze this complex market segment. In constructing a payments categorization framework that bridges technology and payments, it became clear to the publisher that payments are becoming increasingly online and recurring and moving in the automated data-driven direction of the internet of things.

Highlights of the report include:

• Discussion of the movement of consumers and merchants toward internet of things (IoT) connected payments
• Analysis of payment modes and infrastructure, separating IoT devices from IoT payments
• Analysis of a basic purchase process and presentation of a new model, the Payments Categorization Framework.
• Definitions of the four payment modes or categories: in-person, online, recurring, and IoT payments)
• Discussion of infrastructure, agents, full process map of an IoT transaction, and a comparison of the different payment modes.
• Current market segments segmented by the four payment modes – in-person, online, recurring and IoT – with a focus on IoT payments.
• Discussion of trends and future implications of IoT payments and the agents that are affected.

Key Topics Covered

1. Executive Summary

2. Introduction

3. Consumers and Merchants Move Toward Internet-Connected Payments

• Merchants Are Emphasizing E-Commerce Channels

4. Understanding IoT Infrastructure and History

• History of the Internet of Things
• IoT Today

5. Visualizing Payments and Technology

• Four Payment Modes and the Supporting Infrastructure

6. Analyzing the Basic Purchase Process and Constructing a Model

• Traditional Purchase Process
• The Agents Making Purchase Decisions

7. Payments Categorization Framework: Four Modes

• In-Person Payment
• Online Payment
• Recurring Payment
• IoT Payment

8. IoT Payments in Depth

• IoT Payments and Payment Cycle Merge at Point of Purchase
• What IoT Payments Are Not
• Comparison of the Four Payment Modes

9. Current IoT Payments Use Cases

• Auto Insurance
• U.S. Residential Electricity
• U.S. Water Utility Payments
• Reordering Printer Supplies

10. Conclusions

Companies Mentioned

• Amazon
• Apple
• Canon
• Domino’s Pizza
• Epson
• HP
• Intel
• Microsoft
• MIT
• Netflix
• Papa John’s
• Procter & Gamble
• Progressive
• U.S. Department of Commerce
• U.S. Department of Energy
• U.S. Energy Information Administration
• Wall Street Journal
• Walmart
• Whole Foods

For more information about this report visit https://www.researchandmarkets.com/r/1jvawi

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SOURCE Research and Markets