Share your thoughts on IoT (Internet of Banking) possibilities
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I still marvel at ‘Amazon Go’ stores that identify the customer and do not have traditional checkout counters with humans assisting the entire checkout experience.
Similarly an example from the east - China using a lot of face recognition to enable seamless payments in retail outlets.
An underlying problem IoT has focused on solving so far is faster payments. What’s beyond? What are the use cases that could see potential differential solutions?
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Might not be the classical sense of IoT, still
- Wearable Tokenisation based payments -> Option to carry only your smartwatch and select which card you want, when you want for each transaction
- New methods of 2FA -> It can be through the laptop, mobile, etc
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I remember my time in Europe and all the envy where people could pay through their smart watches! This was way back, but I see many participants enter this now in India. One being Titan itself with its smart analogue watches!
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