As smart buildings become more prevalent across Europe, the integration of unattended payment services within these spaces is transforming urban living and creating new opportunities for the fintech sector.
These high-tech environments require sophisticated, secure and efficient payment solutions, presenting both challenges and opportunities for innovation in the financial industry.
Sarah Koch, director of marketing and communications at Aevi, a platform provider for in-person payment orchestration, explores how fintech is driving the development of smart buildings.
Sarah Koch, director of marketing and communications at Aevi
Let’s consider this very real possibility, where your home anticipates your needs, your refrigerator restocks itself, and where EV charging is as simple as parking. This is the future of urban living, and more specifically, the future of smart buildings.
As the European smart city market expands at an unprecedented pace, these high-tech havens are poised to become the standard in urban dwellings.
The integration of unattended services within apartment blocks stands at the forefront of this, enabling residents to pay for goods and services at source. How can this be successfully achieved, and what software is required?
Finally, how can unattended payments in smart buildings protect our privacy and ensure our safety?
How do smart buildings work?
At the core of every smart building project is the internet of things (IoT). Through advanced connectivity and the potential to leverage AI technology, IoT can seamlessly integrate new in-person payment solutions. This is a critical aspect in the effective implementation of unattended services.
Smart buildings are adopting multiple in-person payment methods such as contactless, mobile wallets, and blockchain-based transactions; this is required in order to cover all bases and satisfy the residents’ every need. All payments can be managed through a centralised app, which can handle everything from utility bills to paying for amenities and services, simplifying and even managing the residents’ finances.
Just as smart buildings use digital sensors to connect with software and gather data to enhance the experience for their occupants, self-service payment terminals provided by Aevi’s third-party partners can be integrated into various unattended services within these buildings.
This includes EV charging points in car parks and intelligent refrigerators. This innovative integration allows residents to pay for services at source, while simultaneously collecting all the data, which can be analysed to further enhance residents’ user experiences, making them even more attractive to investors.
Integrated EV charging stations right at your doorstep
The use of EVs is clearly skyrocketing among consumers, especially in urban areas. However, one of the most significant challenges for EV owners is gaining instant access to charging solutions. Smart buildings are able to address this growing need by incorporating charging points within their parking spaces, so residents can easily plug in their vehicles and pay for the charging service directly at the source.
These systems use smart meters and mobile apps that can not only track usage, but also allow residents to manage payments with ease. Integrating EV charging into residential complexes allows smart buildings to cater to the growing demand for sustainable transport, while also enhancing property value.
Futuristic home appliances
Perhaps not too far in the future, most of us will become very familiar with this ground-breaking innovation: intelligent refrigerators. In a feat of technological advancement, the time will soon come where your fridge knows what you need and arranges for it to be delivered without any manual input. These futuristic appliances are equipped with sensors and connectivity features that allow them to interact with other devices and platforms.
They stay one step ahead by tracking their contents, monitoring expiration dates, and even placing orders for groceries when supplies run low. Effective payment management is clearly key for these to run efficiently. Residents are able to pay directly through the refrigerator’s interface using secure, in-person payment solutions. This level of automation is designed to not only simplify household management, but also to reduce waste for a more efficient use of resources.
Enhanced security and energy efficiency
Beyond convenience, unattended services in smart buildings also enhance security and energy efficiency. Advanced access control systems can grant a higher use of security by using biometrics and mobile credentials to give access to residents and authorised personnel only.
However, the same security systems can also be integrated with multiple building management systems to optimise energy consumption. For instance, smart lighting and HVAC systems can adjust settings based on occupancy and weather conditions, thus significantly reducing energy consumption, lowering the residents’ utility bills and contributing to a more sustainable building.
What’s in store for the future
Smart buildings offer a glimpse into our future, but they come with significant challenges. Chief among these are data security. Unattended payment systems rely on collecting and analysing large amounts of data, making robust cybersecurity and transparent data policies essential. Our homes, where we expect to feel safest, become vulnerable if these issues are not properly addressed.
Another challenge is the initial cost of implementing smart technology. Although upfront expenses can be high, the long-term benefits, such as increased convenience, efficiency and sustainability, often justify the investment. As technology progresses, we can expect costs to decrease, making these solutions more accessible to everyone.
Looking ahead, the promise of smarter, safer homes is certainly within reach. As we overcome these challenges, we move closer to a future where our homes are not just secure havens, but also exciting centres of advanced convenience, thanks to unattended payment technology.
The post Could Unattended Services be the Future and Success of Smart Buildings? appeared first on The Fintech Times.
