The commercial potential of internet-connected devices appears bound only by imagination and comfort. For security companies, there's a similar broad horizon as watches, refrigerators and other everyday items become tools for payments.
San Francisco-based startup UnifyID is developing an “implicit authentication” platform that requires no conscious actions by users to authenticate identities, and it’s just closed $20 million in fresh funding to support its growth.
Many companies in the payments industry see B-to-B transactions as ripe for modernization, and Mastercard is no exception. Its recent participation in a $300 million funding round in AvidXchange enables a new approach to this market.
Merchant acquirers are racing to sell "integrated payments," or a one-stop shop for transaction processing and myriad other services that stores can tie to the point of sale. But small to medium sized businesses are not often the targets for these efforts.