An Innovative Method for IoT Payments Based on BeiDou Free-flow Service Platform

BeiDou navigation system is considered to be one of the most promising technologies in the era of digital economy, which can provide high precision positioning, navigation and timing services for drivers. Therefore, it has a great potential in combination with IoT payments to improve the traffic efficiency, but it is still in the initial stage to achieve non-stop tolling. Toward this end, in this paper, an innovative method for IoT payments is proposed based on BeiDou free-flow service platform. Firstly, the framework of IoT payments is introduced. Then IoT payments scheme is designed on the basis of the cryptography algorithms and high precision positioning data acquired by BeiDou modules. Lastly, the transactions per second (TPS) is analyzed to test the performance of online transaction. This paper is aimed at providing helpful solutions for future IoT payments in non-stop expressway tolling.