The Rise In The Internet Of Payments

The growth of connected devices, better known today as the Internet of Things (IoT), is accelerating at an unbelievable rate. By 2020 there will be more than 50 billion connected devices (6.6 per person on the planet), up from just under 23 billion devices in 2016. The variety of devices and what they can do for us will become even more diverse. Probably the most important capability that these connected devices will deploy is making purchases on our behalf. This phenomenon of connected payment devices is quickly developing into the Internet of Payments, or IoP.