Internet of Things

Worldpay Announces Hackathon For Internet Of Things Payments

What’s the future of FinTech? Better brush up on your hacking skills and bring the competitive spirit, because Worldpay is hosting the first annual Internet of Things hackathon in London later this month.

Worldpay has paired up with Consult Hyperion, MongoDB and Visa Europe Collab to kick off the event at the Impact Hub Westminster, from Sept. 23–25. Over the course of the 48-hour event, the two themes — the Smart City and the connected home — will seek to engender innovation toward integrating payments.

What’s at stake is a £5,000 prize fund and the future of payments.

Across the globe, hackathons have been gaining popularity for years and have even, in their very nascency, aimed to stimulate innovation and inspire technological advances. And that’s why Worldpay seems to want to get in on the game.

“FinTech in the Internet of Things is a fast and dynamic sector which is continually evolving to meet the needs of consumers and industry, so it’s vital to get collaboration between a wide variety of organizations,” said Nick Telford-Reed, Worldpay director of technology innovation. “Worldpay’s hackathon is a chance for participants to challenge and disrupt current payments models with innovative new solutions. We’re looking forward to seeing what the teams can do with our industry-leading payment APIs, and we’re confident the results will be game-changing.”

Whether participants are aspiring technologists or more experienced coders, the challenge and goal is to develop a proof-of-concept for mobile-to-mobile payment and to be able to work with Internet of Things data and technology, like the PYMNTS IoT Tracker.

First step for you or your favorite hacker is to request an invitation, as the idea platform will launch two weeks prior to the event.

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Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

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