Payscout and Visa launch the world’s first VR commerce platform

Payscout and Visa launch the world’s first VR commerce platform

Retail payments have taken another step into the future, writes Banking Technology‘s sister publication Paybefore.

Payment processor Payscout has launched a virtual reality (VR) system that employs Visa Checkout and enables consumers to examine products before ordering them for delivery to shoppers’ homes.

Payscout VR Commerce, launched at Money20/20 Europe, enables users to register payment credentials within their digital wallets or access their existing Visa Checkout accounts. With e-retailer Body Language Sportswear, it crafted a virtual retail experience that works like this:

  • The user launches the app and enters payment credentials, and selects the retailer – in this case, the sportswear seller.
  • Up comes a 360-video experience “of a day in the life of a Body Language Believer”, which then gives way to a “virtual store.”
  • Inside that store, shoppers “explore products interactively by rotating items, enlarging, and/or viewing in greater detail”.
  • A “menu-driven checkout experience” confirms purchases and handles payment and shipping details.
  • After the payment is processed, “an interface to the merchant’s fulfillment center is triggered with all the order details”.

“This moment represents the next step in the evolution of shopping experiences,” states Payscout CEO Cleveland Brown. “We’ve seen the emergence and proliferation of both e-commerce and mobile commerce platforms, but this is the world’s first VR commerce platform.”

@banking
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