Virtual Reality payments on the way with VRPay

With the next paradigm shift in shopping expected to be within a virtual environment via virtual reality glasses, one will of course need to be able to securely enter payment information within such a virtual environment for this to become mainstream. That's why, Alibaba affiliate, Ant Financial, has today announced that next month they will be unveiling the first ever virtual reality payment service.  

Last week Alibaba unveiled their Buy+ virtual and augmented reality shopping platform, enabling users to enter a virtual storefront to select and view products they wish to purchase. Users have the ability to view potential purchases in a 360-degree format as well. Any success that Buy+ has will be dependent on the ability for customers to easily and securely enter their payment details within the platform. This means head, and potentially hand gestures will have to be translated into the system so that users can enter their credit card details and whatever else is necessary.

The system, called VR Pay, works by presenting users with a 3D Alipay checkout counter, where they will enter their details via 'eye, head and hand motions'. VRPay will be offering an SDK for third party developers to implement their payment system into their games and apps, and they are also considering adding biometric features into future versions of the platform.

Ruben HorbachComment