Alibaba trials virtual reality payments for VR malls
The virtual world just got a new payments technology and it's as easy as nodding your head Chinese web behemoth and Amazon stalking horse Alibaba is working on bringing its payments clout to the world of Virtual Reality and is developing technology that will let people buy goods in a virtual world by making physical gestures.
Cite or link to this article
Griffin, M. (2016) 'Alibaba trials virtual reality payments for VR malls', 311 Institute, 10 August. Available at: https://www.311institute.com/alibaba-trials-virtual-reality-payments-for-vr-malls/ (Accessed: 1 October 2026).
The virtual world just got a new payments technology and it's as easy as nodding your head
Chinese web behemoth and Amazon stalking horse Alibaba is working on bringing its payments clout to the world of Virtual Reality and is developing technology that will let people buy goods in a virtual world by making physical gestures.
The company's Ant Financial unit is developing a prototype that will let shoppers strolling through a VR mall make purchases with a nod of the head and while they evidently think that's a good idea just imagine the chaos that that could cause. Nevertheless it's an interesting area for them to be working on.
"We are working on a VR driven payment tool to offer a real immersive and complete VR shopping experience," said their spokesperson and the new development follows hot on the heels of their recently announced Buy+ VR store where shoppers can don a headset and use hand controllers to hold and try on different bags, shoes and clothes but once the Buy+ shoppers have finished their VR shopping experience they still have to remove their headsets and return to the real world to pay for their goods.
That then begs the question that if you buy goods in a virtual world are you paying with a virtual currency and does it really come out of your bank account? We can but wish. Slowly but surely it looks like the world of VR is getting a little more real every day, or is that virtual?
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The virtual world just got a new payments technology and it's as easy as nodding your head Chinese web behemoth and Amazon stalking horse Alibaba is working on bringing its payments clout to the world of Virtual Reality and is developing technology that will let people buy goods in a virtual world by making physical gestures.
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Matthew Griffin Founder, 311 Institute
Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath."
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Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath." 15-time best selling author of the "Codex of the Future" series, Matthew is the Founder and Futurist in Chief of the 311 Institute, a global Futures and Deep Futures advisory firm working with royal households, world leaders, G7, G20, and G77 governments, NGOs, and multi-national mid and mega cap firms to help them explore, shape, and lead the next 50 years of business and society.
An award-winning YouTube creator with over a million followers, with an unrivalled global reach and impact, Matthew is a highly sought-after international keynote speaker, lecturer, and mentor who collaborates with global leaders through the United Nations Alliance of Civilizations (UNAOC) and United Nations General Assembly (UNGA) to shape pivotal initiatives such as the UN’s AI for Humanity program, the United Nations Conference of the Parties (UN COP), and the World Economic Forum in Davos.
As the former Global Head of Cloud, National Security, and Enterprise Sales for companies including Atos, Dell-EMC, and IBM, Matthew has a proven track record of building multi-billion dollar business units and turning failing divisions into market leaders. His ability to identify, analyse, and communicate the implications of hundreds of emerging technologies and trends is unparalleled, and his insights are trusted by many of the world’s most respected organisations, including ABB, Accenture, Adidas, AON, ARM, BCG, Centrica, Citi, Coca-Cola, Dentons, Deloitte, Dow Jones, EY, Google, KPMG, Lego, Legal & General, LinkedIn, Microsoft, PepsiCo, Qualcomm, RWE, Samsung, Siemens AG and Siemens Energy, T-Mobile, UBS, VISA, Walmart, Workday, Worldpay and many others.
Regularly featured in the global media including the AP, BBC, Bloomberg, CNBC, Discovery, Forbes, Khaleej Times, Telegraph, TIME, ViacomCBS, WIRED, and the WSJ, Matthews mission is to help organisations create a fair and sustainable future whose benefits are shared by everyone irrespective of their ability, background, or circumstances.
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Source: first published by the 311 Institute on 10 August 2016. Cite as: Griffin, M. (2016). Alibaba trials virtual reality payments for VR malls. 311 Institute. https://www.311institute.com/alibaba-trials-virtual-reality-payments-for-vr-malls/
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