Pay by Nodding

How many of you have virtual reality goggles? “Alibaba is really a technology company that controls 80% of the Chinese e-commerce market,” according to Forbes.  In terms of revenue, Amazon is Alibaba’s closest competitor (Amazon top, Alibaba second).  Alibaba’s “Singles Day” (young Chinese are proud to be single) is held annually on November 11, brings in a lot of money.

Anyway, when you’re using your virtual reality goggles, Alibaba is introducing payment by nodding, so shoppers don’t have to take your goggles off to check-out.  Read more about it in the article below from Reuters.

Alibaba’s new payment system lets virtual reality shoppers pay by nodding

Oct 12, 2016

By Sijia Jiang | HONG KONG

Alibaba Group Holdings’ finance arm on Wednesday demonstrated a payment service that will allow virtual reality shoppers to pay for things in future just by nodding their heads.

VR Pay, the new payment system, is part of Alibaba’s efforts to capitalize on the latest technology in online shopping. In 2015, for example, it introduced a facial recognition technology for Alipay mobile payments service advertised as “pay with a selfie”.

The VR payment technology means people using virtual reality goggles to browse virtual reality shopping malls will be able pay for purchases without taking off the goggles. They can just nod or look instead.

Lin Feng, who is in charge of Ant Financial’s incubator F Lab that has been developing the payment service over the past few months, told Reuters: “It is very boring to have to take off your goggles for payment. With this, you will never need to take out your phone.”

User identity can be verified on VR Pay via account logins on connected devices or via voice print technology that recognizes each person’s unique voice. Lin said this was the most convenient method in a VR setting compared with other biometric recognition technologies.

But passwords will still be needed for authentication, which the user can also enter with head movements, touch, or by staring at a point on virtual display for longer than 1.5 seconds, he said.

VR Pay is expected to be ready for commercial launch by the end of this year.

Ant Financial said its new VR-based payment infrastructure can make VR “a tool rather than just a toy” by connecting various VR goggle makers and app developers to the Alipay payments platform.

Ant Financial Services Group, which was demonstrating VR Pay in Shenzhen on Wednesday, operates China’s largest online payments service Alipay with more than 450 million daily users.

In September, it bought U.S.company EyeVerify, a maker of optical verification technology used by U.S. banks including Wells Fargo.

(Reporting by Sijia Jiang. Editing by Jane Merriman)

http://www.reuters.com/article/us-alibaba-ant-financial-vr-idUSKCN12C1N8

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Leanne

I began writing Elle's Adventure in China (EACh) in June 2014 as a fun summer project, but as obstacles kept interfering with my plans, I forked and forked more options. I took writing this novel much more seriously in mid-July, and want to have it officially published someday in my lifetime. As many artists put their hearts into their projects, so do I. I did not start out liking to read, but a professor suggested a book for me for homework a few years ago, and it was an amazing book. Since then, I read for pleasure, and I hope my novel, Elle's Adventure in China, does the same for as many of you as possible. The same thing goes to writing. I did not like to write until I took a course where the professor and papers made me love to write. I hope every one of you find what makes you happy and dedicated to work. In May 2015, I started my other blog, Read and Write Here (R&WH), as a place to post other things that aren't China- and Chinese culture-related and not EACh. I share some of my memories and experiences from student teaching, irregular participation in Daily Prompts, etc. I'd like to have regular people and bloggers to write book reviews and post it on R&WH someday. Keep reading and writing!

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