Virtual Shopping Possible With New Worldpay System
When Facebook first made a move to buy Oculus, Mark Zuckerberg offered up some tantalizing visions of a VR-based future.
Virtual reality concert halls, ball games, museums and a host of other possibilities all emerged, and none were really out of line, technically speaking. Now, Worldpay has recently shown off a system that allows users to pay for it all, thanks to a new payments system that works in VR.
It’s at the very earliest stages right now, a proof-of-concept system that demonstrates how users could use a standard bank card system inside a VR setup. It uses host card emulation (HCE), a familiar development, to almost function like a mobile payments system does.
It also draws on the Europay / Mastercard / Visa (EMV) system as a security measure along with a basic conduction method. With these tools in place, the VR system works effectively like most any card-not-present system might.
This isn’t the first time someone’s tried a system like this; Mastercard tried its Wearality system back last year, using VR glasses and wearable devices to allow users to purchase some of the items seen at a PGA Tour golf event.
With reports suggesting that Facebook has detailed around five percent of its total staff to augmented reality (AR) and VR developments, that suggests that there could be some big value to come in this market going forward.
Couple this on with Zuckerberg’s earlier projections of just what VR could be and the opportunities are endless. While it would be impossible—at least for now—to attend a virtual baseball game and buy a hot dog through VR, it wouldn’t be hard to buy the ball. Or some shoes.
Or even your own stadium seat. Souvenir operations would go through the roof for a system like this as the knick-knacks in question could just be sent by mail later on. Consider a store that only exists in VR, works like a regular store, and allows for showrooming…all from that interface.
VR could be a major step forward, and monetizing that VR will be the biggest step toward making it happen. All it’s going to take is the right platform, and using mobile payments as a base could allow for a ready way to shop through VR systems.