Use cases for IoT payments abound. From keyfobs to wearables, they're beginning to show up everywhere. The biggest attribute it must have is that it is something precious to the user that they take with them everywhere, and that isn't lost or misplaced regularly.

Many banks and card companies are looking towards wearables more than most other options, from rings to watches to fitness bands. American Express announced in April that it partnered with Jawbone for its UP4 band, using NFC technologies, a variation on RFID. Some estimates are that wearable proximity payments will be $501B by 2020.

Mastercard has also jumped on board. In October, they announced:

"The program will launch with the support of several marquee partners across multiple verticals to fit every lifestyle need. Designer to the stars Adam Selman, automaker General Motors, wearable technology innovator Nymi, smart jewelry company Ringly, and Bluetooth locator TrackR are among the prominent consumer brands enabling their products through the program."

The product makers plan to put IoT payment capability into clothing, keyfobs, wristbands and rings, among other items.

PayPal is working the process from the app direction, with apps for wearables containing most of the functionality of the web-based program, and of course iPhones were at the forefront of IoT payments.

Many of these payment structures have been built like a house with many wings, adding on as they went. The state-of-the-art mBeaconPay platform has been built from the ground up to support all these use cases.

If you're in the market for your organization to develop proximity payment capability in wearables or other candidates from the IoT, we can help.

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