Shopping used to mean carrying coins, bills and even chequebooks around, but now we pay for our groceries, rent, taxis, movies and takeaways without fumbling for any of that. Like technology, money has also changed a lot in the last fifty years. Simply swipe, tap or wave the wearable device that stores your payment methods and account information in front of a contactless payment reader and away you go. This means that in the not too distant future, anything and everything you (can) carry with you, no matter where you are, can ultimately be used to make payments. By 2020, we will have 24 billion connected ‘things’ worldwide, 5 billion of which will be consumer connected devices. The exponential growth of the Internet of Things offers payment companies the opportunity to venture beyond cards, POS devices and even smartphones, to a vast ecosystem of IoT-connected devices. Are we ready to go completely cashless?.You can now get a pizza and pay for it with your basketball shoes.China’s Face++ enables you to pay with your face.
Visa’s payment-enabled sunglasses show that any device can be a payment device.Swish is poised to transform Sweden into a cashless society within five years.Samsung’s CCP is broadening the appeal of contactless transactions.
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