IoT Devices to Become Common Financial Transaction Methods

Internet of things (IoT) devices are garnering the attention of many marketers and consumers. While they may have different purposes, a December 2015 survey found that these devices may become common financial transaction methods, particularly wearables.

Timeframe in Which Select Internet of Things (IoT) Devices Will Become Common Financial Transaction Methods According to Banking/Insurance Executives Worldwide, Dec 2015 (% of respondents)

Cognizant, Marketforce and Pegasystems surveyed 500 senior banking and insurance executives. Some 20.4% of respondents said that wearables will become common financial transaction methods within a year.