In the near future, vehicles will drive autonomously and machines will engage in business with other machines. These ‘things’ are required to make and receive payments and be included in traditional financial systems.
But current payment systems are not equipped for the Internet of Things, because ‘things’ do not have a bank account or a credit card. Also, existing banking infrastructure is too expensive and unable to handle instant peer-to-peer (micro) payment transactions.
With QUASAR, our IoT payments solution, we enable corporates to create completely new business models.