Machine-to-Machine (M2M) payment: Machine-to-Machine (M2M) payments refer to the integration of the payment process into the fully automated processing of business transactions; in short, the ability for machines to make payments autonomously to one another. M2M payments represent an important next stage in the development of the Internet of Things (IoT). For example, a fridge could automatically reorder and pay for milk as soon as it runs out. (Publication date: 15 March 2021)