Two in five Swedes comfortable with smart devices shopping on their behalfPrivacy concerns remain the biggest barrier to consumer adoption
September 27, 2017
27th September 2017 – Stockholm — New research from Worldpay reveals that 39% of Swedish consumers would feel comfortable letting a smart in-home device, such as a connected fridge, purchase items on their behalf. The country is split in this regard, with 42% of respondents admitting they would not feel comfortable giving their devices this level of autonomy.
While a growing number of consumers welcome the potential of connected devices, data security and privacy remain major concerns. Worldpay’s research has found that 60% of Swedish consumers worry about device manufacturers sharing their personal data, and 65% are apprehensive about these devices being hacked.
With the country’s enthusiasm for connected technologies now at a tipping point, the onus falls on businesses to reassure consumers by giving them control over their devices. Forty-six percent (46%) of Swedes say they are more likely to embrace connected devices if they can set rules to govern what is purchased and when.
Rogier De Boer, VP of Business Development in EMEA at Worldpay said: “No matter if done by a human or machine, it is vital for consumers to remain in control when they’re delegating payment tasks. Our research has found that there should always be a conscious ‘act of consent’; be that via a device notification, button press or a pre-set rule like a spending limit, being agreed in advance.
“The beauty of technology advancements means that there are many opportunities for virtual assistants and connected devices to make consumers lives easier. If machines can offer consumers a ‘concierge’ style service that reduces day-to-day life admin and menial tasks then there is no reason why they won’t want to delegate some of their shopping responsibilities – after all, we would all appreciate an extra bit of time to ourselves. In the end, consumers need confidence that machines can be trusted to make the right decisions and keep their owners informed and in control.”
To help companies explore the possibilities of machine-to-machine payments, Worldpay is trialing an open source software development kit (SDK) to facilitate payments between connected devices. Worldpay Within is an embeddable payments agent that allows smart devices to make and accept payments simply, quickly and securely. With the number of connected devices estimated to reach 20 billion globally by the end of 20171, making sure these technologies can communicate effectively and securely will be crucial to getting the most value out of them.
From 3-5th November, Worldpay will host its first ever hackathon in Bucharest, Romania, where attendees will be challenged to use Worldpay Within to develop innovative applications of IoT technology in payments. To register for the Worldpay Payments & IoT hackathon, visit the event website.
About the data
The research was conducted by research house Opinium in June 2017 and interviewed 20,000 consumers who have heard about the Internet of Things in Australia, Brazil, China, Germany, The Netherlands, Singapore, Spain, Sweden, United States of America and United Kingdom. The full Connected Consumer report is available upon request. In Germany, 2,002 consumers were surveyed.
Worldpay is a leading payments company with global reach. We provide an extensive range of technology-led payment products and services to around 400,000 customers, enabling their businesses to grow and prosper. We manage the increasing complexity of the payments landscape for our customers, allowing them to accept the widest range of payment types around the world. Using our network and technology, we are able to process payments from geographies covering 99% of global GDP, across 146 countries and 126 currencies. We help our customers to accept more than 300 different payment types. For more information, Visit us at www.worldpay.com.
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