IBM and Visa will be turned by cars and washers into e-wallets

In February, 2017 the companies IBM also Visa announced cooperation in the market Internet of Things. The purpose of partnership is implementation of payment functions and artificial intelligence in various devices and objects.

As the executive vice president of Visa for innovations and strategic partnership Jim McCarthy reported, the company intends to use the IBM Watson IoT platform as much as possible to reduce the number of actions of users in payment transactions. He gave the car as quality example of implementation of technology: when it finishes fuel, electronics will independently find the nearest gas stations with the bottom prices, will prompt to the driver the shortest way to them and will automatically pay gasoline with the Visa card during gas station.

IBM headquarters

Also in Visa consider such scenario at which dealers will be able to sell cars, receiving from motorists not all amount at once, but periodical payments which size will be defined by the number of the passable kilometers. Cash write-offs will be automatic. In this way users will be able to purchase washers, paying them depending on the frequency of operation and volume of loading of linen during washing.

One more example of sharing of the payment Visa and IBM functions: "smart" sneakers at connection to the smartphone will warn the owner about strong wear, will offer the addresses of the nearest shoe shops and price for products which can be paid with several touches to the screen of the mobile device.

The Visa and IBM project can be large-scale, considering that by February, 2017 about 6 thousand clients use the IBM Watson IoT system worldwide, and Visa has more than 3 billion clients. According to forecasts of IBM, by 2021 in the world more than 380 million cars with permanent connection to the Internet will be used.^[1]

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