Worldpay: Payment without leaving the virtual world becomes reality

27th July 2017 – Shanghai — The VR/AR market showed great promise last year and is growing at a rapid pace, and Worldpay, a leader in global payments is using ChinaJoy 2017 in Shanghai (July 27th – 30th) to introduce a proof of concept, which allows gamers to pay using a credit or debit card while remaining immersed within a virtual environment.

The Asian market, especially China, is one of the most attractive in the world when it comes to digital business. With the huge popularity of gaming and technology last year at ChinaJoy, this sector is continuously soaring at a very fast pace thanks to many companies’ focus on investing in the Virtual Reality (VR) /Augmented Reality (AR) space.

As a global payment processor with an extensive range of technology-led payment products and services, and years of experience in the digital content and video games industry, Worldpay saw an opportunity to explore how payments could work in the VR/AR space. With more and more retailers starting to explore how VR can help them create compelling experiences for their customers, and help them to better engage with their brand, the next step is to consider whether this technology can support purchases as well.

According to Worldpay’s latest report The 360 consumer: how VR is reshaping the buying experience, Chinese consumers are leading the world in their adoption of VR and AR technology. A full 95% of survey respondents in China said they’ve used VR or AR technology in the past three months; more than three times the rate of VR use around the globe.

Since VR/AR is still on fire at this year’s ChinaJoy, Tang Kok San, Country Manager for China at Worldpay, commented: “With an avid appetite for VR/AR technology, Chinese consumers inherently trust the value that technology brings to games and entertainment. It’s certainly no surprise to learn that Chinese consumers are blazing the trail as global leader in VR/AR adoption. What’s more, Chinese consumers are moving beyond video games and entertainment; driving new demands to see AR and VR technology across a variety of business applications. We’re now seeing more companies experiment with VR/AR in their aim to drive higher customer engagement. A compelling, immersive and seamless VR experience may have the capability to increase sales.”

Marking the 15th edition of this breathtaking trade show, ChinaJoy 2017 is one of the world’s most significant digital entertainment exhibitions, attracting over 600 companies from over 30 countries and across various industries such as entertainment, digital, gaming and advertising businesses, showing the latest in entertainment and technology, featured innovations both in software and hardware.