VentureBeat’s Chris O’Brien interviewed publisher Tim O’Reilly about the impact of the IoT. There are a number of great insights in the story including this one:
He (O’Reilly) said Uber is also disrupting payments, more so even than much hyped services like Apple Pay. With Apple Pay, you replace one payment device (a credit card) with another payment device (a smartphone or Apple Watch).
“But with Uber, once the service is booked, payment just happens when it’s over — no need for another action by consumers. O’Reilly sees a day when connected gadgets allow for payment systems where stores and machines simply recognize people and conduct a whole transaction automatically.
“What Uber is doing with payments may be more important in the long run than Apple Pay,” O’Reilly said. “Apple Pay re-creates the old workflow, just with a new device. It would be revolutionary to say we don’t need that at all.”
See O’Brien’s full coverage of the interview here.