A Nod to the Future of Payments
10-14-2016
Are you ready to say “yes” to your next purchase? All you have to do is nod to pay, with the help of Virtual Reality technology. The new service, dubbed VR Pay, was demonstrated by Alibaba Group Holdings, a division of Ant Financial, during Shenzhen Innovation Week, according to Reuters. This technology means that users don’t need to remove their VR goggles to shop, and can confirm their identities by using voice biometrics, or logging in with their password.
Interest in the VR space has been on the rise, as evidenced by the introduction of several new VR technologies in recent months, including Daydream VR headset from ETA member-company Google. The ability to shop “virtual malls” while using VR goggles moves VR beyond gaming into a more functional space, and VR Pay facilitates seamlessness in this new frontier in commerce.
About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $6 trillion in purchases in the US and deploying payments innovations to merchants and consumers. Learn more: www.electran.org.
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