Tags: alibaba | pay | by | nodding | virtual reality

Pay by Nodding: Alibaba Hopes to Thrill Virtual Reality Shoppers

Image: Pay by Nodding: Alibaba Hopes to Thrill Virtual Reality Shoppers

An employee is seen behind a glass wall with the logo of Alibaba at the company's headquarters on the outskirts of Hangzhou, Zhejiang province, April 23, 2014. (Chance Chan/File Photo/Reuters)

By    |   Wednesday, 12 Oct 2016 02:42 PM

Alibaba's "pay by nodding" technology could be the wave of the future in an increasingly cashless society, aiding people who are shopping in virtual reality.

The head-nodding payment technology, which was introduced Wednesday, is part of Alibaba's efforts to capitalize on virtual reality users and online shoppers, Reuters reported.

In August, when it was developing the pay-by-nodding technology, Alibaba Group Holding Ltd. said nodding virtual reality-enabled mobile payment technology would allow users to pay bills and make purchases all in the 3-D world, China Daily reported. Alibaba referenced the technology during a preview of its Buy+ virtual store.

"It is very boring to have to take off your goggles for payment," Lin Feng, who is in charge of Ant Financial Services Group's incubator F Lab that has been developing the payment service, told Reuters. "With this, you will never need to take out your phone."

Ant Financial, which operates China's largest online payments service Alipay with more than 450 million daily users, demonstrated the virtual reality pay technology in Shenzhen on Wednesday.

The technology would allow the user's identity to be verified on through account logins on connected devices or via voice print technology that recognizes each person's unique voice, stated Reuters. Lin told the news agency the method was more convenient than other biometric recognition technologies.

Chinese consumers are embracing cash-free lifestyles more and more, China Daily said, with a survey from the French research firm Ipsos Group SA and the U.S. public relations firm Ogilvy & Mather finding 78 percent of respondents had used mobile payment tools to shop online.

Reuters reported the pay-by-nodding technology could be ready for commercial launch by the end of this year.

China-based Alibaba replaced Walmart earlier this year as the world's largest retailer, posting revenues of $482.1 billion for its fiscal year ending Jan. 31.

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
TheWire
Alibaba's "pay by nodding" technology could be the wave of the future in an increasingly cashless society, aiding people who are shopping in virtual reality.
alibaba, pay, by, nodding, virtual reality
305
2016-42-12
Wednesday, 12 Oct 2016 02:42 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved