The Future of Payments: Augmented or Ubiquitous?

Share this post

Welcome to the Metaverse

“Meta” is a shortening of the word “metaverse”, a phrase coined by science fiction writer Neal Stephenson in 1992, referring to immersive virtual spaces where people can play games, attend concerts, meet with colleagues, and buy all kinds of digital goods and services. (NPR) Even though no one can say exactly what a Metaverse will look like, it does include virtual and augmented reality.

So, being a tech enthusiast myself, whose own virtual reality journey began back in 2014 with an Oculus DK2, this has become quite an interesting subject for me and has raised a couple of questions.

Will This Impact Payments in the Future?

Why does Facebook intend to invest so much money in virtual reality in the first place? The answer is pretty simple.

Technology trends come in waves; computers became common at home during the 1980s, followed by the internet in the 1990s, mobile phones in the early 2000s, and social networks in the late 2000s. So if you want to be relevant for the next wave, you have to be at the forefront of innovation and preferably be the one owning the platform and infrastructure that will build that next big ‘wave’.

As we all know, Facebook successfully did this for social networks, becoming by far the most significant player. And, if Meta can become the next platform for social interaction and work, perhaps even taking over the roles of Google, Apple, and Microsoft, it will be in an ideal position to monetise the future. Of course, payments are only a small part of this, but as the potential owner of the next big platform, Meta has some real power when it comes to limiting and controlling how payments and trade happen in the future.

Will Virtual Reality Reign Supreme, or is there Something Better?

Virtual reality is just one of the many potential visions for the future. An alternative, which can be described as roughly the opposite of virtual reality, is ubiquitous computing

Continue reading the full article over on our website okaythis.com.
Article by Okay AS

More To Explore

Membership

Merchant Community Membership

Are you a member of The Payments Association?

Member benefits include free tickets, discounts to more tickets, elevated brand visibility and more. Sign in to book tickets and find out more.

Welcome

Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.

Having trouble signing?

We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.

First things first

Have you set up your Member account yet? If not, click here to do so.

Still not receiving your auto-login link?

Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.

Please click the button below which relates to the issue you’re having.

I didn't receive an e-mail

Tip: Check your spam

Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association

Tip: Check “other” tabs

Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.

Tip: Click the link within 60 minutes

For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.

Tip: Only click once

The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.

Tip: Delete old login e-mails

Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.

Tip: Check your security policies

Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.

Need to change your e-mail address?

For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.

Still got a question?