For most of us, VR today means donning some heavy face mask contraption and flailing your arms (to the amusement of others) in an immersive reality that only you can see. But you better believe the virtual world is going to become an increasingly compelling place to think about your money — how you spend it, how you save it and how you invest it.
Creating an immersive world where cash is king is still in its nascent stage, but some interesting projects are already being set in motion. The upside? Visualizing complicated worlds, like your bank accounts and investments, is an application perfectly suited to the world of virtual reality where you can play “what if” scenarios and visualize your data. The downside? Putting on your headset and settling in to spend money is a lonely endeavor. And most of the applications haven’t yet been truly creative about what it means for your financial life to enter the virtual world. Here are some of the applications that are appearing.
Shopping Catalogs with a Pinch of Aspiration
Alibaba, the global store where you can buy just about anything, has been bringing virtual reality to its customers in China through an ambitious project called Buy+. Wearing headsets, customers can browse store merchandise in a virtual world simply by looking around. Fix your eyes on a specific item and it springs to life, showing you its details. AliPay VR then lets the user complete a purchase with a few eye movements. Buyer’s remorse could take on a whole new meaning when blinks and stares might make you a product owner.
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PAYSCOUT VR COMMERCE
Part of the allure of VR shopping is about screenwriting. You’re invited to view the backstory behind the products. Payscout VR Commerce is debuting VR shopping experiences where you can not only visit the virtual store and experience the products in 3D, but also immerse yourself in the story behind the products. Payscout’s proof of concept is an athletic wear store where you watch aspirational videos of others who are living the life with their clothing. Then, you buy what you like without ever having to leave the virtual world. The Payscout app registers your payment credentials for your digital wallet of choice. For now, the company uses the least common denominator, Google Cardboard. Download the Payscout VR app for Android or iOS and experience it for yourself.
Big ticket items are also attempting to see some of the big payoffs from VR. Cars, tourism and college are just a few. Relay Cars uses VR to let you test drive and buy hundreds of different vehicles. The Quantas Airlines VR app previews your Australian destinations before you get there. YouVisit lets you tour colleges without getting off the couch. I’m not ready to purchase any of things without additional research, but the VR experience adds important decision-making data to the equation.
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Source: HuffingtonPost