Banking of Things: facilitating payments by license plates

BREDA, THE NETHERLANDS - AVUTEC, A Dutch manufacturer of Automatic Number Plate Recognition cameras, has added payment capabilities to their ANPR camera. By transforming this IoT device into a Banking of Things device, they created the first camera in the world to make autonomous payments triggered by license plates.
Banking of Things?
IoT devices are slowly but steadily becoming a part of our daily lives, making everyday activities easier and more convenient. Banking of Things takes this progression to a next level, by enabling IoT devices to initiate payments. Since PSD2 has recently set regulations to encourage the creation of innovative payments, the door has been opened for new payment methods.
Facilitating payments by license plates
The Gatekeeper, AVUTEC’s ANPR camera, triggers actions based on license plates. Next to interfacing with access controllers, FTP servers and video management systems, the camera can now also initiate financial transactions. By integrating fintech startup FINN’s secure payment software into the Gatekeeper, the camera is able to make automated payments on behalf of the car owner.
Proof of concept payments were carried out at AVUTEC’s parking area, charging participating employees for their parking time.
The road ahead
This year AVUTEC will be deploying it’s ‘PayByPlate’ technology to application area’s like drive-through, tolling, parking, car wash and petrol stations.  If it is up to AVUTEC, as long as a license plate is present, cash or debit cards are obsolete.

more iot news