In a world of connected devices, consumer expectations for transactions — from phone to fridge — will be higher than ever. Learn how to deliver seamless, simple, and secure customer experiences that earn their confidence and cash when you join this VB Live event!
By 2020, annual revenue in the Internet of Things market is expected to exceed $470 billion, with investments in industrial IoT expected to top $60 trillion in the next 15 years. And consumers are getting excited about the huge variety of high-tech devices they can get their hands on, from wifi-enabled kitchen appliances to smart scarves and more. From the sublime to the absurd, IoT is garnering a lot of ink and a lot of interest.
IoT also takes contextual commerce to an entirely new level. Connected devices integrated into every facet of a consumer’s life means the opportunity to seamlessly implement purchase opportunities into even more everyday activities and at opportune moments — then enable that purchase with the click of a button or a voice command.
But along with a new technology comes consumer doubt, and more than a little apprehension. A recent study found that 69 percent of U.S. and U.K. consumers are concerned about the security of their personal data with IoT devices, like smart watches, connected cars, fitness trackers, and home appliances, saying they’re either “very concerned” or “concerned” about the security of their personal data on devices. Including — or especially — their financial information.
And that means that there are a raft of payment and commerce-related challenges that need to be tackled and overcome, from authentication and security to a tailored liability framework.
Plus, it all needs to be seamless — more and more consumers expect that “see, want, buy experience,” especially if they’re shopping from a device that feels like it’s already a step up in the tech hierarchy. The shopping experience needs to be exactly as advanced as the device it’s taking place on.
It’s a lot to juggle, but the potential is worth the price: there will be about 50 billion connected devices before the end of 2017. The emergence of IoT presents opportunities for significant innovation in marketing through new channels with unprecedented penetration. But unless security, privacy, and seamlessness is ensured, you’ll be left behind.
Don’t miss out!
Attend this VB Live event and find out:
- How companies are already dealing with device connectivity
- How the challenges posed by IoT are being solved for today
- Global consumer attitudes around payments made by devices
- How payments will become ‘invisible’ or ‘translucent’ for users
- Payment technology that will enable devices to make decisions
- Kevin Gordon, Lead Innovation Architect, Worldpay
- Stewart Rogers, Director of Marketing Technology, VentureBeat
- Rachael Brownell, Moderator, VentureBeat
Sponsored by Worldpay