German payment services provider Wirecard and T-Systems have developed an Internet of Things (IoT) point of sale (POS) system, which they will display at upcoming trade fairs.
The new POS will be showcased at EuroShop from 5 to 9 March and then at CeBit from 20 to 24 March.
The companies will showcase the product through a customer journey. For example, when a customer go to the shelves where the products are displayed and picks up the items, a sensor on a shelf would communicate with the POS system and payment would by design be processed through the Wirecard platform.
T-Systems vice president centre of excellence retail Dirk Rumler said: “The Internet of Things will enable consumers to shop in a virtual environment and then receive real objects delivered to their door. We are convinced that merchants must get to grips with the technology now in order to remain competitive in the long term.”
Wirecard vice president of POS retail solutions Alexander Hahn said: “In terms of the payment process itself, it is crucial that it fades into the background: it is all about automated processes which enable a customer to make cross-channel payments seamlessly – no matter where they are – for instance, by using fingerprint recognition technology or to authenticate a password. The technology for the future of shopping is already here.”
The two companies revealed plans to develop the IoT POS in April 2016.