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Shopping via virtual reality is Alibaba’s latest payment focus

October 14, 2016

In a quest to capitalize on the emerging virtual reality wave, mega-retailer Alibaba is developing a new payment system that promises to let consumers buy with just a simple nod of the head.

The VR approach, called VR Pay, comes a year after the retailer launched a 'selfie' pay facial recognition tool, according to a Reuters report. Consumers would use VR goggles to browse virtual malls and buy while browsing. VR Pay has been in development for a few months.

"It is very boring to have to take off your goggles for payment. With this, you will never need to take out your phone," Lin Feng, who runs the F Lab incubator, told Reuters.

VR Pay is slated to be up and running by the end of this year.