Many retail brands and companies have begun to use augmented reality (AR) in a variety of ways, from advertising to product display. Many analysts predict that AR will begin to change the retail landscape. Perhaps in order to realize this, PayPal has applied for a patent for AR shopping experience.
The recently approved patent is called "Product Description for Augmented Reality." According to a CNBC report, this description describes a customer using AR smart glasses related to PayPal. The user can purchase products by simply viewing the products and then selecting from the menu.
For example, a customer may hang out outside and see something they want to buy, such as a lamp or a pair of shoes. By simply viewing the product and selecting "Buy Now", customers will be able to select and purchase the requested product and deliver it to their homes entirely from the AR environment.
PayPa wrote in the patent: "In a system, we can use a method to display the augmented reality view of product instructions, which includes receiving requests from client devices, including requests for image data." This method may also be included in images Identify an object in the data and generate an augmented reality view of the identified object. The method may also include transmitting the augmented reality view to the client device.
Although this patent is currently completely theoretical, the idea behind it is to compress the online shopping process into something simpler and easier than Amazon's famous "one-click order" process.
Research shows that PayPal accounts for more than 60% of global online transactions, and in 2017, PayPal's revenue exceeded 13 billion U.S. dollars (USD). The technology proposed in the patent may drive more transactions to PayPal.
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