G+D Launches IoT Label for Automated Payment Verification
Giesecke+Devrient (G+D), the €3bn (US$3.1bn) German security technology company, has released a tracking label that enables automated payment settlement for cross-border trade transactions.
The G+D Smart Label, developed with IoT hardware manufacturer Sensos, incorporates GPS tracking, temperature monitoring, and tamper detection into a credit card-sized device.
The system uses an integrated SIM (iSIM) - a chip that connects to mobile networks without requiring a physical SIM card. The device maintains certification for air travel, enabling tracking across multiple transport modes.
Payment Innovation
The device's integration with payment systems marks a departure from traditional trade finance instruments.
Track & Pay, a B2B payments company, has implemented the technology to automate payment releases upon delivery confirmation. The system reduces settlement delays by connecting physical shipment verification with payment processing systems.
The label includes features for maintaining cargo integrity throughout transit. Temperature monitoring capabilities enable verification of storage conditions for perishable goods, while the tamper detection system provides automated proof of delivery. These features address compliance requirements for sensitive shipments.
The label's activation occurs when applied to a package, using motion sensors to track movement and acceleration. The GPS system provides location data within 10 metres in optimal conditions.
G+D manages the device through a cloud platform that handles connectivity and firmware updates. Users can configure reporting frequencies through the cloud platform to match specific operational requirements.
The technology builds on G+D's previous tracking solutions. The company released its first-generation Smart Label in 2023, which received industry recognition for its innovation in logistics tracking.
Sharath Muddaiah, Head of Portfolio Strategy for IoT solutions at G+D, says: “G+D has been dedicated to designing robust solutions for the transport and logistics market, and is the market leader of solar-powered trackers with over 180,000 connected devices in the field.”
Market Availability
G+D, which reported a turnover of €3bn (US$3.1bn) in 2023, has made the Smart Label available through direct purchase and through its IoT shop for customers in Germany and the United States.
The company will demonstrate the technology at the Consumer Electronics Show in Las Vegas on January 9.
The Munich-based security technology firm, founded in 1852, employs 14,000 staff across 123 subsidiaries in 40 countries. The company operates in the digital security, financial platforms and currency technology sectors.
Muddaiah adds: “The G+D Smart Label provides a single end-to-end solution, including dedicated service support and warranty from one source. Our industry has seen many a solution that, once sold, has limited support, and we are here to set a new trend!”
G+D: Leading digital payments evolution
The launch of G+D’s IOT label furthers its position as a leader in digital payments evolution.
At Money20/20 USA last year, we spoke to Gabrielle Bugat, CEO of G+D ePayments, who notes how the company’s security positioning has seen it it garner broad consumer trust – with more than 160,000 merchant and 5,000 banking customers under its wing.
“We have products with biometric sensors that provide reassurance even without PIN entry, using fingerprint security instead,” explains Gabrielle.
“When it comes to security, there shouldn't be any 'buts' because it's about user trust,” she concludes.
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