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22-Jul-2017 10:10

Ant Financial said its new VR-based payment infrastructure can make VR “a tool rather than just a toy” by connecting various VR goggle makers and app developers to the Alipay payments platform.

Ant Financial Services Group, which was demonstrating VR Pay in Shenzhen on Wednesday, operates China’s largest online payments service Alipay with more than 450 million daily users. Eye Verify, a maker of optical verification technology used by U.

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With this, you will never need to take out your phone.” User identity can be verified on VR Pay via account logins on connected devices or via voice print technology that recognizes each person’s unique voice.

Lin said this was the most convenient method in a VR setting compared with other biometric recognition technologies.

Alibaba’s net worth in fact, is estimated at an impressive .3 billion.

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Total consumer sales across Alibaba’s extensive marketplaces reached a whopping 6 Billion last year according to a company report dating August 2014, to put that into perspective, it’s an amount far exceeding double the sales of both e Bay and Amazon for the same year.All in all, Alibaba’s prospects would be nearly unimaginable if they weren’t true, taking into consideration that Jack Ma, (previously an English teacher) and his co-founders set up their Internet company in an apartment just over fifteen years ago.The truth is, Alibaba is the face of a changing global economy, ‘developing’ countries are now producing major companies who are securing themselves as integral players on the global stage and investors are finally paying due attention to this shift.By completing the registration process for an Account and clicking the “I agree” button, you agree to be bound by this Agreement as well as the terms and conditions of the following: (a) Alibaba Cloud International Website Terms of Use; (b) Alibaba Cloud Product Terms of Service; (c) Privacy Policy; and (d) any other website or service rules and policies as adopted and published on the Alibaba Cloud Platform from time to time, (all of the above collectively referred to as the “Terms”).

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But then it abruptly scrapped the privatization bid last year as the company’s fortunes began to take off with growing popularity of live broadcasting services that have become a recent favorite among Chinese internet users.

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