Worldpay creates prototype that handles payment transactions inside of virtual reality

London-based payments processor Worldpay has created a prototype using the HTC Vive which allows shoppers to make transactions inside of VR applications.

Companies who are interested in setting up virtual storefronts and marketplaces may benefit greatly from such a system, which could pave the way for an easier and safer way users can spend money in VR.

Because transactions take place inside a virtual space, there’s no redirection to a separate page in order to confirm purchases. But how would paying for items work inside of VR?

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The proof of concept demonstrates how a consumer could pay for things using their credit or debit card while inside a VR environment through Host Card Emulation (HCE), which is a technology similar to what is used in other mobile payment devices.

After that, Worldpay’s prototype works similarly to how one might use their card outside of a simulation. The user can pick up and inspect items for sale, which are then “dropped” into a shopping cart.

When ready to check out, the demo shows an option to pick a card for payment. For purchases that are less than $39, a shopper can tap their card across a virtual card machine using EMV authentication (which “smart” cards have via a chip).

Any transactions that are over $39 will utilize the new technology Worldpay created called AirPIN, which allows shoppers to enter their PIN number through a virtual keypad. The idea is that this will make shopping seamless and more secure for consumers in VR.

If the purchase is more expensive a shopper must input their pin instead of tapping their virtual card against the payment machine, which makes it nearly impossible for lingering eyes to catch a glimpse at your four-digit code.

The virtual environment can be re-textured to resemble the inside of a storefront or other property, making this technology beneficial for companies looking to experiment with monetizing in VR.

You can check out how the prototype works over at VentureBeat.

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