Connectivity by Design: The Future of Smart Payments

In a post-COVID world, Internet of Things (IoT) revenue growth has accelerated. Operators have been gearing up for future investments. Payments and retail have been undergoing an IoT transformation, from mobile payment systems to point-of-sale (POS) transactions and smart vending machines

The payment landscape is evolving at an unprecedented pace. Cashless transactions, contactless payments and digital wallets have become universal. This transformation is changing how we pay and driving post-human transactions in which machines conduct transactions for their owners. This shift provides opportunities and challenges for companies that want to harness this market. 

Communication service providers (CSPs) will be pivotal as payments evolve toward machine-to-machine (M2M) interactions. To thrive in this environment, they must ensure robust connectivity and security for their services. 

Bundling Connectivity and Hardware for IoT-Enabled Smart Payments 

Following a “connectivity by design” approach and sourcing modules, connectivity plans and device management services from one provider is critical. The connectivity by design strategy integrates connectivity early in the development process, creating a foundation for resilient, secure transaction services. Bundling hardware and connectivity from one trusted provider ensures deployment efficiency and security. 

Key Takeaways

Join Telit Cinterion for a webinar hosted by MWL to explore how connectivity by design can unlock opportunities for the future of payment technology. We will discuss how starting with connectivity can empower payment providers to navigate complexities in the digital payment ecosystem. 

You will learn: 

  • Details about the current payment market 
  • Key challenges in building and managing robust connectivity, from design to the last day of operation 
  • Strategies to build dependable, future-proof connectivity and protect your smart payment devices from roaming issues and connectivity loss 
  • How eSIM is evolving to facilitate IoT use cases 
  • How eUICC will enable IoT smart payment solutions to integrate seamlessly into daily life 
  • Best practices for over-the-air (OTA) data transmission and effective device management 
  • How to safeguard smart payment solutions from cyberattacks while maintaining data integrity and complying with security standards