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Sprint and Wirecard to Deliver the Internet of Payments

Telecommunications giant Sprint and German financial services provider Wirecard announced they are teaming up to deliver the Internet of Payments.

Under the agreement, Sprint will integrate Wirecard’s commerce solutions into its Curiosity Internet of Things (IoT) platform. Essentially, the two will embed payment capabilities into IoT deployments.

Sprint’s Curiosity IoT combines Curiosity Core, a virtualized IoT network, with Curiosity OS, an IoT operating system. The project will be piloted in the retail sector where the two will work together to “deliver the retail experience of the future” by enabling a connected purchasing experience.

“This opens up many commercial opportunities, and also delivers an unparalleled commerce solution for our global clients and their customers,” said Ivo Rook, Sprint’s senior vice president of IoT and product development. “As IoT becomes even more central to how enterprises run, we look forward to identifying new opportunities and use cases for these technologies. The growing internet of things will lead to new and innovative transactions, like directly between devices, and this collaboration will power such use cases.”

IoT has a wide range of applications in the payments space. With IoT, consumers can move beyond traditional payment devices and instead pay using wearables, their car, and voice-enabled devices such as Alexa. In many settings these types of payment methods are already possible but they are not widespread.

Georg von Waldenfels, executive vice president of group business development at Wirecard said that the collaboration will help Wirecard “meet a growing demand for commerce without barriers.” Waldenfels added that teaming up with Sprint is a “significant step toward developing the shopping experience of the future.”

This isn’t Sprint’s first foray in the IoT space with a fintech. In 2018, the company partnered with Dynamics to launch the Wallet Card, an IoT connected, battery-powered payment card.