Payment processing company WorldPay developed a prototype system, which allows transactions to be made within VR mobile applications.
In an interview with Bloomberg, the company’s director of technology innovation Nick Telford-Reed said it developed the technology for test use on the HTC Vive VR headset.
It took WorldPay 18 months to get to the latest working prototype stage and, when complete, the company will target retailers and games companies as customers to integrate the feature into their apps.
The system is built to allow virtual items to be purchased in the case of a game, or physical goods to be bought from retailers, which can then be delivered using their usual sales channels.
To make a transaction, the customer “picks up” a virtual item using the VR unit’s hand controller. A price will then appear in their field of vision, if the consumer accepts the cost they can pay with a virtual representation of the payment card registered either on the handset or potentially directly with WorldPay.
Additional security features can be incorporated by building in a virtual pin-pad to allow consumers to enter a passcode.
In early May, WorldPay revealed an in-house study found a significant number of shoppers in its target markets had previously tried VR technology, and were open to the possibilities it provides.