5G IoT Mobile Payments
Mobile infrastructure and cloud enhancements together with the advent of edge computing that 5G standardizes, projects mobile payments to gain significantly in terms of speed, security, authentication, and user experience. IoT Payments from the fast-emerging connected devices, wearables and smart equipment will generate payment volumes that could soon replicate or exceed the volumes from the current payment types on mobile, web or in store purchases.
With 5G creating ubiquitous network of networks, MNOs can recapture the role played by the Telcos in the past with payment transaction network infrastructure, and ramp up capability for securely routing and switching mobile, internet transactions as a premium service. NewNet is pioneering for over 3 decades in offering industry leading payment solutions for Telcos/MNOs for payment network services and transaction network services.
NewNet’s solutions leverage 5G’s distributed computing models with the STC application for Mobile payment routing, transport and secure network access, empowerment of connected devices for IoT Payments, and offering cloud native solutions for both edge and core cloud compute segments. These solutions hold immense capability to enable the Mobile Network Operators and Mobile Service Providers to carve out expanded payment network service roles and direct payment acquiring, processing roles.
Featured Resources
Whitepaper – 5G & Mobile, IoT Payments
The payment revolution is here with 5G. 5G promises a whole new world of in nite possibilities and rewriting the world as we know, with assurances for an unprecedented level of connectedness among humans, machines, devices, and networks.
Feature Summary – STC for Mobile, IoT Payments in 5G Edge, Cloud
5G Edge computing unleashes the power of cloud computing at the edge along with necessary storage and security. This reduces latency of traf c, minimizes network traf c to the core, thereby enabling the millions of IoT devices for the payment functions. NewNet’s STC application in the Edge can handle these payments for rapid, real time authorizations with highest security.
Multi Access Edge Computing (MEC) in 5G is expected to deliver ultra-low latency and giga bits per second speed which allows to support high density of IoT devices and related applications requiring faster responses and operate with highest security in real time.