6 big Internet of Things payment projects

  • February 17 2017, 11:20am EST

More everyday products are becoming connected devices, including refrigerators, washing machines and even mirrors. As each household item evolves, companies are eager to transform them into channels for shopping.

'Magic' mirror

Founded by former eBay executive Healey Cypher and colleagues, Oak Labs aims to wipe out the pain points that still exist in physical retail stores. Its interactive fitting-room system based on mirrors has been in development since 2015 at stores from designers including Ralph Lauren and Rebecca Minkoff. The new version adds Near Field Communication technology to accept payments from within each dressing room booth.

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Fueling the economy

Car makers are working aggressively to turn their dashboards into a shopping channel. To this end, German car maker Daimler AG acquired PayCash Europe SA in January as part of its plans for a broad range of new vehicle-related mobile payment services dubbed "Mercedes Pay." In addition, Honda is working with Visa, IPS Group and Gilbarco Veeder-Root to enable payments for gas and parking from within the car.

A 'Dash' of Payments

Amazon's Dash technology is best known as a small internet-connected button that consumers can press to reorder food and supplies from Amazon's website. But the technology is also being built into networked home appliances from partners such as GE, Samsung and Whirlpool, enabling washing machines and dishwashers to order more soap whenever they sense they are running low.

Dear Watson

IBM's Watson is no longer competing for the title of Jeopardy! champion — it now wants to be a platform for development in the Internet of Things. IBM will leverage the “cognitive abilities” of its Watson IoT platform with Visa technology, providing a streamlined path for businesses to add payments to any device connected to the internet, such as a vehicle.

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On the menu

Just over a year ago, Mastercard and Samsung unveiled their vision for the future of grocery shopping. By embedding payments into a touchscreen on a networked fridge door, the companies allow consumers to order groceries without leaving the kitchen.

About time

Google's Android Wear smartwatches debuted before the Apple Watch did, but with fewer features. Whether or not consumers were buying Apple's wearable to access Apple Pay from their wrists, Google knew it had to catch up. This month, Google finally brought Android Pay to its smartwatch platform, with LG developing the first Android Pay-compatible watch.