The birth of IoT payment is the product of the interaction between the supply and demand sides of the market.
On the supply side, the emergence of several new technologies and the integration of mature technologies to promote the commercialization of IoT scale, laying the foundation for the feasibility of IoT payment. For example, the rapid development of IoT technology has led to increasingly networked and intelligent devices, and the computing capacity of a single device is greatly enhanced, thus enabling the device to have the ability to process payments. At the same time, sensor technology combined with artificial intelligence and cloud computing fill in the "eyes" and "brain" for the device, IoT devices can have the ability to automatically obtain payment verification information or initiate payment transactions based on the user's status. On the demand side, the advent of the IoT era has also prompted all parties involved in the IoT industry chain to actively seek a new solution. For users, laziness is the first core productivity, users want to simplify the payment process, realize senseless payment with the perception ability of IoT devices, and change the payment initiation from the existing user-driven subjective to the event-driven of devices. For the device side, in today's fierce competition, a single device manufacturer is no longer competitive, the device side is in urgent need of transformation to the device operator, around the device to create an ecological chain, deep participation in each life cycle of the device. Payment as an important step to achieve the closed loop of the device ecology, the device side needs to build its own IoT device payment capabilities. For the service providers in the device industry chain, IoT payment can make the service melt in the scene, shorten the user reach channel, increase user stickiness and service loyalty. At the same time, automated IoT payment can be combined with the supply chain, combined with the payment initiation conditions, pre-determined user demand, to achieve intelligent manufacturing of goods, intelligent generation of services, reduce supply chain pressure.
Payment layer, the core underlying ability of IoT payment, payment layer in the system architecture and the existing payment system to interface, to achieve IoT payment and existing payment system compatible. In the specific function to achieve IoT devices and payment account association and IoT payment transaction routing. Platform layer, mainly responsible for the management of device payment, the platform mainly has three general capabilities. First, the device access management and processing capabilities, support a variety of applicable IoT scenarios such as MQTT, CoAP access to ensure high reliability of payment information transmission. Second, business logic processing and computing capabilities, due to the serious fragmentation of the front-end of IoT devices, in order to adapt to diverse devices and reduce the load on the front-end devices, the business logic originally handled by the device is processed by the platform, which intelligently initiates payment through decision-making. Third, device security authentication and device state management, through device authentication to ensure that the transactions passed to the payment layer is real and credible. At the same time, in order to control transaction risks, the platform needs to obtain real-time device status information for risk prevention and control. The network layer includes low-power wide-area networks developed for IoT applications such as NB-IoT, eMTC, LoRa, etc. The necessary information required for payment is transmitted through a network consisting of wireless modules, communication devices and communication protocols. The device layer is mainly responsible for obtaining the information required for payment through sensors and other identification technologies, while the device layer application has the basic capability of security authentication, so as to realize the credible authentication of the platform to the device and guarantee payment security.
The Internet Of Things Payment Requirements
Payment involves financial data, security level requirements are high, IoT payment needs to meet the device authentication, transaction protection, transaction traceability, forgery three major requirements. Device authentication: IoT payment process of each payment initiated by the device is required to be a platform certified trusted devices. Therefore, IoT devices should have a security chip, which has four major capabilities: unique identification, secure computing, secure storage, and secure communication.
(1) Unique identification: each IoT device provides a unique identity to provide two-way authentication services in the subsequent financial transaction services to prevent the device from being tampered with or counterfeited.
2) Secure communication: for the low-power characteristics of IoT devices, implement lightweight secure transmission protocols to reduce device resource consumption while ensuring communication security.
3) Secure storage: ensure the secure storage of financial-grade certificates, device identification and other financially sensitive information.
4) Secure computing: Support international and national security encryption algorithms to provide security protection for transaction data, business data, application authorization and other sensitive data. Transaction protection: The transaction process needs to meet the financial transaction framework based on the device security chip to protect the transaction security. The financial-grade security transaction framework aims to achieve the effect of protecting transactions by implementing information encryption and two-way authentication between the platform and the device in every step of the transaction. Traceable and verifiable transactions: Each transaction of the device requires traceability and verification. In the specific implementation, it can be combined with blockchain technology to realize real-time data uploading and ensure correct transaction information.