Payment eco-system

The future of payment processes and hence of the entire payment ecosystem is automated and smart. Technologies and trends, such as blockchain and the Internet of things (IoT), play a key role. IoT makes it possible to provide digital information, collected via sensors in real life, that can be used for new applications and processes. 

Smart objects as the basis for the IoT

It is based on things which are made smart through the installation of microchips and sensors so that they can coordinate by themselves with other things and computers via the internet without human intervention. Intelligent objects transmit data and make and settle payments autonomously. Automated payment and billing modules that are integrated into hardware, and objects authorized to carry out payments are paving the way for new business models. The secure transmission and storage of data is a key element.

Potential for new business models

IoT can be used to align existing processes by means of digitization to create a form of organization which learns and continually improves. Data platforms are fed with information via IoT. On the basis of data science, this enables new data-based products and services to be developed and even new business models to be created.

IoT: growth rates of 30 percent

The IoT trend is continuing relentlessly. Estimates indicate there are now 50 billion IoT devices worldwide. The level of expenditure and investment on IoT in Switzerland is equally high. A growth rate of 30 percent is anticipated over the coming years.


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