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LoRaWAN Payment Processing Endpoints
peaq can convert any LoraWAN provider’s-connected device into a payment processing endpoint to consume goods and render services in a peer-to-peer manner, disrupting traditional payment platform providers while creating a decentralized machine economy on top of the LoraWAN providers/peaq ecosystem.
Example: Any smartwatch equipped with LoRaWAN and NFC would enable the user to unlock and pay for ride sharing services, peer-to-peer, by leveraging the LoraWAN Networks ’s connectivity and peaq’s smart contract and transaction layer.
Use Case: Hyper-scale the payment-enabled-devices landscape by providing next-level payer and payee/receiver experiences for anything from vending machines to point of sale (PoS) systems to charging vehicles at charging stations, which all rely on Telco and fiat payment processors as of today.
This can be achieved by peaq providing a pre-built integration to enable out-of-the-box, peer-to-peer identity, access and payment functionality for IoT devices connected to the LoraWan providers network.
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