IoT: From Pilots to Reality

IoT (Internet of Things) is now everywhere and brings a lot of changes in our habits and way of payments. This Trustech conference exposes how it’s going to change companies’ approaches and strategies with consumers.

How IoT Will Transform Commerce in the Home by 2040

Interaction between humans and things create new value and knowledge. This is the purpose of IoT. 200 million speakers like Google Home or Alexa are expected to be sold in 2023 across the world. Consumers are living longer and expect everything at their fingertips. They live their lives more on demand, willing to spend money in order to buy some time. This new consumerism is about simplification of life.

Commerce will become more passive in the future, and by 2040, the key themes for smart homes will be convenience, simplicity, security and affordability.

There will be an impact for players across the ecosystem. A lot of opportunities are coming because of IoT. For customers and retailers, the biggest change coming is the automation of certain products and purchase decisions. There will be new challenges which are going to disrupt the traditional funnels.

This new world will require more data and more partnerships. Consumers will sale their data to a third-party provider for what they want to share, and that provider will work with companies which want to deliver different types of experiences. Company must be the brand that the consumers choose when they decide to look into an automated purchase. Consumers, on their side, will save more time and potentially more money.

Speaker: Michelle EVANS, Euromonitor International

Platform to Connect IoT Services. Your Contactless Services. Your Way.

Fidesmo is the contraction of “fides” for “trust” and “mo” for “mobility”. It’s a platform made for connecting services to things. Today, we all have different uses on IoT, the main one being connecting things on the Internet. Fidesmo is a unifying IoT platform hooking customer services to things out in the real world, over the platform.

Payments are going contactless. This trend is being pushed by the banks and the payment providers, to bring security and speed to payment transactions. Old systems upgrade their infrastructures in that direction.

Fidesmo pipes keys and credentials from services to devices in a secured way, fulfilling all the requirements of the payment schemes. The company is involved in a few projects such as:

  • Seamless travels, meaning one device could carry many different credentials and keys to public transports. To be environmentally friendly, transports need to be easy and that kind of system helps.
  • Payments are important and crucial. A lot of people are asking for carrying payments functionalities on something by the fingertips.
  • Watch brands are already working with Fidesmo.
  • There’re above 32 billion cards in the world. The banks want to add functionalities to the card, so they would be able to be used with every kind of services like entering a gym. The wallet gets thicker and thicker, that’s why people try to get rid of cards. But if one card has multiple features, it will stay longer.

Speaker: Hakan SAHLEN, Fidesmo

Connected Commerce - The Internet of Payments

When we think about digital commerce, it’s about the ecosystem providers (consumers, merchants, banks, networks). Fit Pay offers a system and an environment where users can transact in a frictionless, secure and personalized way. This company thinks about transitioning from IoT to Internet of Payments, where all connected devices have ability of payment.

Today, we’re sitting at about 1 trillion dollars in contactless payment, and the digital commerce will be over 5 trillion dollars in the next 4 years. That’s driven in two ways:

  • The number of devices that will have commerce capabilities as part of their feature set
  • Consumer adoption: making the consumers aware and making them understand the utility of the payments on their devices.

Twenty years ago, we had mobile phones which only did phone call or texts. Then, the first smartphone came up and it was a unique device allowing multiple applications. Now, we have IoT, which is multiple devices with many uses and all interconnected.

IoT are going to change the way payments happen and will give multiple ways to pay which will bring a lot of challenges, such as complicated ecosystem, ubiquity of acceptance and the issue of security in authentication. Once those challenges settled, this transformation of payment experience will happen.

Speaker: Michael ORLANDO, Fit Pay 

Blockchain Meets Energy and IoT with Smart Solar Panels and Solar Gardens

Smart energy is going to be the most important ecosystem for IoT which is driving new business models. In the new digital economy, you can have distributed energy resources, microgeneration and energy storage. You also have a completely new approach to billing and payment.

Smart card chips have important security issues, such as data security, key management, resistance of the major threats or software updates. Blockchains are the biggest change to financial services. It consists on a historical record of transactions, like a data base or a finger print.

The Energy Web Foundation created an ID where you can prove that you have got energy certificates linked to small contracts, which proves that you have gotten a testable source of renewable energy.

Smart card panels form part of the small energy IoT ecosystem. The panels become a trusted hardware blockchain. We can issue certificates from Energy Web Foundation and these certificates could be valuable.

Speaker: Colin MALLETT, Trusted Renawables

When Luxury Met IoT: The Birth of a New Symbol

Four years ago, Armillion Genève started developing the first jewel that can be used for payment and accessing Internet. First, they tried to get an approach to the customers that they wanted to attract to their product. There are 2 million people in the world having more than 5 million dollars and they study how these people act and what their lifestyle looks like. They found out it was wealth, access to supercars, homes, luxurious things that they are used to purchasing.

But what do those people who can access to almost everything need? They figured it was more freedom, more time, and to be disconnected to the world without renouncing to the comfort provided by technology. They consider symbols represent what they wanted to get in life. A few challenges occurred:

  • There’s some physical loss that puts some problems to access technology using gold.
  • Most of luxury brands realize that the customer is used to getting long life to their products and own automatic watches that can be used by the next generation. But when you buy a mobile, you must replace it quickly.
  • The most important thing is payment, with style. A bracelet can pay approaching a terminal. Since recently, Armillion Genève offers a pre-payed solution, a debit solution and hopes being able to propose a tokenised solution inside bracelets by March or April 2019. Payment isn’t only styled, it’s also smart.
  • Offering access to supercars.
  • Offering personalization to any card and easily linked to bracelets.
  • Home accessing. The most important brands working in security access are working on access solutions which could be easily linked to the bracelets.

This bracelet is a non-battery product, which provides more freedom. It also provides time because you can use it anywhere at any time.

Speaker: Carlos Z. BELSUE, Armillion Genève