Mastercard's AR Experience Lets Customers Scan Their Eyes to Pay
Laura McQuarrie — October 24, 2017 — Business
References: businesswire & techrepublic
Mastercard, ODG and Qualcomm recently unveiled a forward-thinking AR experience for the retail environment that involves a pair of smart glasses, photorealistic overlays and eye-scanning payment authentication.
The futuristic shopping experience is set in a photorealistic, augmented reality setting that makes it possible for shoppers to view digitally rendered products before making a purchase. As part of the experience, shoppers also have the chance to see additional options that are not available in the immediate physical space, as well as get instant recommendations and additional information.
When it comes to checking out, the Mastercard experience integrates Masterpass and Identity Check Mobile with iris authentication, which makes for simple, streamlined and secure transactions. As consumers lead more connected lifestyles, it is becoming important for retailers to consider the way physical and digital store experiences can be merged.
The futuristic shopping experience is set in a photorealistic, augmented reality setting that makes it possible for shoppers to view digitally rendered products before making a purchase. As part of the experience, shoppers also have the chance to see additional options that are not available in the immediate physical space, as well as get instant recommendations and additional information.
When it comes to checking out, the Mastercard experience integrates Masterpass and Identity Check Mobile with iris authentication, which makes for simple, streamlined and secure transactions. As consumers lead more connected lifestyles, it is becoming important for retailers to consider the way physical and digital store experiences can be merged.
Trend Themes
1. AR Shopping Experience - The integration of AR technology in retail shopping experiences has the potential to enhance overall customer engagement and create new revenue opportunities.
2. Eye-scanning Biometric Authentication - Eye-scanning payment authentication is a disruptive innovation opportunity that can help streamline and secure transactions, making the checkout process faster and more efficient.
3. Photorealistic Overlays - The use of photorealistic overlays in AR shopping experiences has the potential to improve customer satisfaction and lead to increased sales.
Industry Implications
1. Retail - Retail industries can integrate AR technology and eye-scanning payment authentication to provide their customers with an unforgettable shopping experience and stay ahead of their competition.
2. Payment Processing - The use of eye-scanning biometric authentication presents an opportunity for payment processing industries to provide their customers with secure payment options.
3. Smart Wearable Technology - Smart glasses and other smart wearable technology offer a promising avenue for tech industries to explore the integration of AR technology and biometric authentication for commercial applications.
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