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TNS Report Shows Smart IoT Device Payments Adoption Threatened By Consumer Security Fears

April 24, 2019 / Ken Briodagh

A recently released Transaction Network Services (TNS) report, which surveyed consumer attitudes toward smart payments, indicates that adoption of Smart IoT Device Payment technology shows substantial growth, but consumers have significant security concerns. TNS’ Consumers Confirm Smart Payments Adoption report evaluates US, UK and Australian consumer experiences with and attitudes toward smart payment technologies on Internet of Thing (IoT) based devices, including voice assistants, Wi-Fi refrigerators and connected cars. It reportedly reveals that 26 percent of respondents that own a voice assistant have used it to make a payment, 57 percent would be willing to make a payment via a connected car if they owned one, and 45 percent would pay for groceries via a Wi-Fi refrigerator touch screen or compatible application.