21 October 2017
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In the face of consumer scepticism, Worldpay develops SDK for IoT shopping

27 September 2017  |  5893 views  |  0 Smasung smart fridge

Worldpay is developing an open source software development kit to bring payments to connected devices in the Internet of Things.

Worldpay Within is an embeddable payments agent that allows smart devices to make and take payments in much the same way as you would in a physical shopping environment.

The payments processor views the IoT as a potential new frontier for its business, with the number of connected devices estimated to reach 20 billion by the end of this year. The company is running a hackathon in Romania next month, where developers will be invited to create innovative new IoT-based payments applications using its SDK.

Worldpay's enthusiasm for the technology remains undimmed, despite publishing new research which indicates that consumers are less than enamoured with the prospect of their fridge or any other Web-connected widget automatically restocking supplies and making payments.

The study, conducted among 2000 tech-literate UK consumers, suggests that a mere 23% feel comfortable with a smart device ordering items on their behalf, and half say they cannot see the benefits of the convenience afforded by automated shopping.

Privacy emerged as the main barrier to adoption, with 78% of British consumers worried that businesses would share their personal data. A similar proportion (77%) showed concern about the prospect of devices being hacked by fraudsters.

Although the prospect of setting rules on spending limits, and what can and cannot be bought, goes some way to reassure consumers, a third of the sample remain steadfast in their belief that nothing would make them feel comfortable with automated purchasing.

Nick Telford-Reed, director of technology innovation at Worldpay comments: “Despite reservations, no matter if done by a human or machine, it is vital for consumers to remain in control when they’re delegating payment tasks. Our research has found that there should always be a conscious ‘act of consent’; be that via a device notification, button press or a pre-set rule like a spending limit, being agreed in advance."

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