Visa has collaborated with tech giant IBM to bring point-of-sale (POS) solution and commerce into any device – from a watch, to a ring, an appliance or a car with Watson internet of things (IoT) platform.
With IBM’s Watson IoT platform, businesses will be able to connect to billions of connected devices, sensors and systems around the world, wherever Visa is accepted. The solution is currently used by more than 6,000 IBM clients.
The partnership will allow companies to infuse secure payments across their product lines using the Visa Token Service, a technology that replaces sensitive payment account information found on payment cards with a unique digital identifier, IBM said in a statement.
IBM Watson IoT general manager Harriet Green said: “IoT is literally changing the world around us, whether it’s allowing businesses to achieve unimaginable levels of efficiency or enabling a washing machine to ensure we never run out of detergent. And behind this transformation are companies like Visa and technologies like IBM’s Watson IoT platform.
“This combination of IBM’s industry leading IoT technologies with Visa payment services, signifies the next defining moment in commerce by allowing payments on any connected object, with new levels of simplicity and convenience for everyone.”