Emerging Technologies: Internet of Things, E-Commerce, and Payment Gateways Notes | Knowt

What is the definition of the Internet of Things (IoT)?

The networked connection of physical objects created by embedding connectivity into ordinary physical items and linking them to a computer network or the internet to enable intelligent functionality.

What is Sensing in the IoT framework of sensing and sense-making?

The deployment of hardware sensors to continuously monitor physical assets, environmental variables, and inventory status.

What is Sense-Making in the IoT framework?

The translation of raw sensor data into actionable analytical insights to optimize operational decisions.

How do enterprise retail facilities utilize RFID sensors and smart tags?

To track inventory continuously in real-time, eliminating human tracking errors and ensuring optimal product availability on store shelves.

How does Amazon Go enable commercial retail locations to operate without traditional checkout lines?

By integrating computer vision cameras and artificial intelligence (AI) algorithms to track items picked up by consumers, automatically billing their linked mobile application upon departure.

What specific intelligent sensor hardware does logistics enterprise deploy to monitor high-value or sensitive cargo during transit?

The DHL SmartSensor.

According to industry data, how many physical devices were connected to global networks by the year $2020$?

Nearly $50\text{ billion}$ physical devices.

What is a Pay-Per-Use revenue model in the context of emerging IoT trends?

A usage-based commercial structure powered by IoT telemetry where organizations transition from fixed-fee pricing to charging based on specific usage duration or equipment utilized.

What is an example of an Autonomous Machine Transaction (M2M) without human intervention?

A smart vehicle autonomously negotiating and paying for its own parking fees or electric charging sessions.

In the Automated Home use case, how do smart home appliances communicate data to the manufacturer's cloud infrastructure?

Over the local home Personal Area Network (PAN).

In Frictionless Retail, what technology detects and authenticates a customer's mobile smartphone upon entering a store?

Bluetooth Low Energy (BLE) beacons.

In Intelligent Logistics, what action do automated smart contracts take if a shipment experiences severe damage or transit delays?

They instantly execute customer refunds or initiate restocking orders.

What is the definition of E-Commerce (electronic commerce)?

The transaction of buying and selling goods and services over internet networks.

What is Business to Business (B2B) e-commerce, and what key example is provided in the transcript?

Commercial transactions conducted exclusively between two corporate entities; key example is IndiaMART.

What are key examples of Business to Customer (B2C) e-commerce listed in the transcript?

Flipkart, Myntra, and Nykaa.

What is Customer to Customer (C2C) e-commerce?

Direct transactions between individual consumers without business intermediaries, such as online individual sales of a used bicycle.

How does e-commerce impact operational reach for enterprises in terms of availability?

It enables enterprises to reach global target audiences $24$ hours a day, $7$ days a week ($24/7$), eliminating geographic constraints.

What is an e-commerce payment gateway?

An online software tool acting as a secure intermediary bridge connecting a business storefront website to its underlying payment processor by authenticating and conveying payment parameters.

What are the four major practical applications of payment gateways cited in the transcript?

Online Shopping, Bill Payments, Ticket Booking, and Charitable Donations.

During payment gateway processing workflow, what entity authenticates data to verify card validity and user identity?

The customer's card-issuing bank.

What security compliance standard must payment gateways adhere strictly to for processing and storing cardholder data?

Payment Card Industry Data Security Standard (PCI DSS).

How many world currencies can modern payment gateway infrastructure support for cross-border transactions?

Over $150$ world currencies.

Which payment gateways are specifically highlighted as prominent solutions for the UAE market?

Telr and PayFort.

Which payment gateways are specifically highlighted as widely deployed in the India market?

Razorpay and PayU.

What security vulnerability arises from expanding the ecosystem of interconnected IoT devices?

It enlarges the network attack surface, creating potential cyber-entry points for unauthorized network intrusions and hackers.