PayPal Is Preparing Augmented Reality Glasses for Payments

Valeriia Kyselova
Valeriia Kyselova
Account Manager

PayPal prepares augmented reality glasses to obtain product information and pay for it directly. It’s been revealed by a patent recently updated by the American firm.

In recent years, physical commerce and ecommerce have tended to converge, with innovations such as contactless payment platforms as Apple Pay.

In this context of unification, virtual reality and augmented reality play a significant role. For example, online giants eBay and Alibaba have already launched virtual reality shops, and distributors like Ikea or Cdiscount are offering their customers to preview products in augmented reality.

In the same way, last week, Snapchat introduced a new feature allowing brands to integrate purchase links within the mobile application. Today, a patent reveals that the leader of online payment, PayPal, is also looking for a way to use the opportunities offered by augmented reality.

Filed in 2016 but updated this week, the document describes AR glasses for shopping and paying. Precisely, the device would superimpose virtual information on physical products in the real world. Augmented reality examples include product information, purchase options, and return conditions.

In the same way, the device could be used for online commerce, for example, to guide users through the various stages of purchasing a product online. The seller and buyer information would be stored in the system safely, which would speed up the process.

PayPal, Apple, Google tech giants rely on augmented reality.

According to Jefferies analyst Ramsey El-Assal, the AR glasses could allow PayPal to reaffirm its dominance of the digital payment industry. However, the specialist believes that it is unlikely that these glasses will be marketed shortly.

Anyway, when we come to learn that Apple is looking to commercialize its augmented reality glasses in 2020, the willingness of another Silicon Valley giant to enter the market seems to confirm that augmented reality will be one of the major technologies of the next decade.

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