Alibaba Group to Launch VR Payment Service by End of September

| Updated
by Polina Chernykh · 3 min read
Alibaba Group to Launch VR Payment Service by End of September
Alibaba Group CEO and Founder Jack Ma. Photo: Alizila/Flickr

Chinese e-commerce giant has unveiled its plans to launch a new service that will let customers to make payments in the virtual world by making hand gestures or nodding their heads.

Alibaba Group’s financial service affiliate, Ant Financial, has announced it is going to introduce a new VR payment service in September. Called VR Pay, the product will enable users to make purchases within the virtual reality experience.

Last month, Alibaba unveiled Buy+, the VR payment service allowing users to browse items, such as clothes, try them on and make orders. To complete the purchase, users are required to take off the VR headset and pay via a mobile app.

With the new VR Pay product, customers will be able to finish transactions within the VR experience without removing their VR helmets.

After users place an order, the VR payment service shows them a 3D Alipay checkout counter. There are three ways of how to log in into AliPay accounts. Users can gaze at one point during a few seconds, what will be recognized as a confirmation sign. They can also nod their head or make certain gestures, however the latter requires additional devices, such as controller or a sensor. By entering their password, users verify the payment.

VR Pay offers a high level of security and can be compared to mobile payments in terms of safety. Still, the security is one of the main issues for developers who are currently discussing whether to integrate the biological recognition technology or not.  Ant Financial is also in plans to provide an access to a standardized software development kit for third-party app developers.

Partnership With HTC Corporation

Meantime, Alibaba Cloud, cloud computing division of Alibaba Group, has announced a partnership with HTC Corporation to investigate and develop innovative virtual reality solutions for its clients worldwide.

The companies will focus on “developing breakthrough innovative solutions to tackle bandwidth allocation, data transmission and data processing needs in areas such as VR video production and VR broadcasting.”

“Cloud computing has continuously broken the boundaries of what we thought possible, accelerating the rate of innovation. The partnership between Alibaba Cloud and HTC will bring two of the world’s most disruptive technologies together to bring more value to businesses looking to leverage VR and cloud. This partnership will accelerate the development of VR technology in China and encourage widespread, global adoption,” said Ge JIN, Alibaba Cloud’s Business Architect Director.

Blockchain-based Solution For Charity Sector

A few days ago, it has been reported that Ant Financial developed a blockchain-based solution that will increase transparency and accountability to charitable organizations. The technology will be used by Alipay to record all donations to charitable institutions made by more than 400 million users. The donors will be able to track the history of transactions as well as the usage of their money.

FinTech News, News, Technology News, Virtual Reality & Augmented Reality News
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