The Internet of Things involves speed.
Speed of sensors capturing and relaying data and reduced latency at the consumer activity level are keys to friction-free transactions. The coming speeds of 5G are expected to aid those efforts all around.
As yet another indicator that speed matters, a new study has found that the leading reason that consumers make purchases through mobile apps or mobile websites is speed.
The majority (64%) of shoppers say they want to save their personal details to make it quicker the next time, according to the study, comprising a survey of 16,000 smartphone users in 10 countries conducted by Opinium Research for Worldpay.
Nearly half of shoppers would like to use biometrics to make the payments quicker. Shoppers also are becoming more familiar with fingerprint scanning and facial recognition, according to the study. People who drop out of shopping also are influenced by purchase speed.
One of the promises of IoT technologies is that it will make things easier for consumers. It also better make those things faster.