IOT Payments Market size is projected to reach USD 5.4 Trillion by 2028 from an estimated USD 155.53 Billion in 2021, growing at a CAGR of 66% globally. It is a network of devices, machines, vehicles, and buildings connected via communication networks such as the Internet, RFID, and NFC, with microprocessors, sensors, and corresponding software for data acquisition, processing, and real-time delivery. The purpose of establishing this network is to create automated living and working conditions that allow individuals to easily navigate and perform routine processes quickly through an intelligent environment.