ALL >> Education >> View Article
The Virtual Future Of Payment Solutions
With the world going digital, payment solutions are slowly becoming an indispensable part of the online market experience. Whether it be payment gateways, mPOS (mobile Point of Sales) or simple link solutions; any form of payment that eases the customer's life is welcome. These solutions are hassle-free, quick and convenient.
The question that arises now is the future of payment solutions. Virtual Reality and Augmented reality are the new entrants in the market, promising to change the entire customer experience of online shopping. About $2.3 billion has been invested in VR and AR in the last year (2016). Considering this, will payment gateway go the virtual way as well? Or the customers will have to break out of the VR and AR environment and make the payments the normal way: by entering card details manually and verifying the same?
Obviously asking the customer to move out of the immersive environment and make the payment isn't appealing. The next best option for the payment solutions seems to match the experience being offered by VR and AR. Alibaba, the Chinese e-commerce giant has taken the first step towards ...
... the future. In October, 2016, they demonstrated a payment service which enables the people to pay with just a nod. For authentication, hand gestures, touch or a stare longer than 1.5 seconds on the virtual screen is required. This development in the payment services offered by Alibaba comes after they tried to inculcate "Pay with a Selfie/Smile" in 2015. Another company Worldpay is developing a virtual machine for card payments. A consumer needs to select the card and swipe it on the card reader machine. Next he/she can select the authentication password by tapping on the numbers scattered in the room.
All these attempts, for moving towards a Virtual world where customers get an immersive experience sitting in a single place will change the way people transact in the digital world. Aligning the payment solutions with these features and virtualising payment gateways will prevent the payment providers from becoming obsolete. It becomes necessary then for payments to evolve with time and groom themselves to suit the needs of the era!
Add Comment
Education Articles
1. Study Ms In Uk For Indian Students For 2024-25 IntakeAuthor: Transglobal Overseas
2. Top Land Survey And Transportation Design Courses To Boost Your Career
Author: Alaikha
3. Charting Your Course To Cbap Certification: A Comprehensive Guide
Author: Myank
4. Jaipur's Finest: Ranking The Best Nda Coaching Institutes For 2024
Author: Richard
5. Azure Devops Online Training In Hyderabad | Azure Devops Course Online
Author: Renuka
6. Arena Animation Tilak Road - Pune's Premier Animation Institute
Author: Arena Animation Tilak Road
7. Project Management Software
Author: Sangita Samal
8. Lunch Box
Author: nehashah
9. Docker Online Training | Docker And Kubernetes Training
Author: Teja
10. Working With Files In Python: A Comprehensive Guide
Author: Ferilion labs
11. Fostering Creativity In Children's Education: Approaches And Benefits
Author: hussanisoyat
12. Harness The Power Of Machine Learning: Research Proposal Development In Abuja, Nigeria
Author: elaine
13. Empowering Learners: The Evolution Of Education In Dubai's Schools
Author: faizalkhan1393
14. The Importance Of Early Preparation: Securing Admission To Your Dream School
Author: anwarkhan45314
15. Unleash The Power Of Digital Marketing For Your Small Business
Author: Unleash the Power of Digital Marketing for Your Sm