One of the strangest combinations one could think of is payment terminals and virtual reality. In fact, there seems to be no real point in combining both of these concepts whatsoever. Worldpay on the other hand, feels it is an exciting market worth exploring. All of the payment processor’s services will come to the virtual reality world in the future. This announcement is nothing stellar, but it is quite intriguing.
Virtual Reality Payments Sound Quite Bland
It is not hard to see why payments in VR have little appeal. Consumers no longer think about how payments work in the first place. All they want is convenience and ensuring everything is taken care of on their behalf. Worldpay, one of the largest payment processors around the world, feels this is an area that warrants further experimentation. More specifically, the company has demonstrated VR payments through the HTC Vive.
This is where things get somewhat interesting. Rather than allowing users to purchase games outside of VR, the company brings this experience to virtual reality itself. Players can buy games by picking the up to see how much it costs. Once the user stares at the price for a few seconds, they will purchase said game. This sounds like a system people will abuse quite easily, though.
Paying for goods will be done with a virtual version of one’s credit or debit card. Users need to hold the virtual card over the virtual payment terminal. Users can even enter a PIN code in VR as well. It sounds like an engaging concept, although it can become quite a hassle pretty quickly. Moreover, it is doubtful consumers will even appreciate this service in the first place. All it does is complicating the process of buying VR content.
From an innovation point of view, this experience is as boring as it gets. Consumers aren’t comfortable using credit cards for every purchase. Buying things in VR needs to be smoother compared to the real world, rather than making it as cumbersome. It will be interesting to see which countries embrace this payment solution moving forward. Making a virtual payment in virtual reality by paying with a virtual card over a virtual payment terminal sounds absolutely dreadful.