Fintech

AR: a new tool for online payments?

  • 17 May
    2018
  • 2 min

Leading digital companies, with Google and PayPal out in front, are now seriously looking to Augmented Reality as the payment interface of the future.

While some experts reckon that it will be 2021 before the Augmented Reality (AR) market really takes off, it is nonetheless true that the AR sector has for the last few years been enjoying steady growth, as evidenced in particular by the number of AR-based applications available on eitherIOS or Android devices. With the expected arrival on the market later this year of AR-compatible smartphones, it is highly likely that this technology is going to be of great interest to a large number of players in a diverse range of sectors. The Internet giants have not waited for the widespread adoption of Augmented Reality technology to embark on the great AR adventure.Each of the Big Four has been working to develop its own AR headset. Microsoft is offering its Hololens and more recently Apple has come up with a headset eight times as powerful as Oculus Rift. Meanwhile the progressive rollout of this technology has little by little won over key financial players. PayPal has just announced its intention to create glasses that will enable customers to pay for their shopping directly in AR mode. Meanwhile, eBay and Alibaba are already using Virtual Reality (VR), but only in the digital field. PayPal's value proposition is to turn this approach on its head and enable the user to augment products in the real world by superimposing various types of information, and also to pay on line – the purchaser's personal details being saved on the device. It just remains of course to be proved that the data is secure…

By Théo Roux