IDC: Internet of Things spending to grow at an annual rate of 17%
Spending on the Internet of Things will hit $1.3 trillion by 2019, up from $699 billion this year, IDC predicts. That reflects a compound annual growth rate of 17%. IDC says the Asia-Pacific region is responsible for the highest rate of growth, with 40% of worldwide spending concentrated in those countries. Latin America is also expected to experience 26% growth, while health care, consumer verticals and the insurance industries will likely drive IoT spending in the coming years.
Visa brings token-based payment security to Asia-Pacific
Token technology that uses unique digital identifiers in place of sensitive account information has arrived in the Asia-Pacific region in a deal between Visa Token Service and United Overseas Bank. The tokenized cards are linked to a consumer's phone or wallet application, and real-time validation is provided by Visa's global payment platform.
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