Apple Vision Pro and the Future of Payments

By 06/21/2023 No Comments

A few days ago, the technology giant Apple unveiled its new product, Apple Vision Pro, a revolutionary device that seamlessly merges digital content with the physical world, allowing users to stay present and connected with others. Vision Pro defines an infinite network of functions that extend beyond the boundaries of a traditional display and introduces a fully three-dimensional interface controlled by user input from eyes, hands, and voice. Equipped with visionOS, the world’s first “spatial operating system,” Vision Pro introduces Spatial Computing, a new dimension that effectively utilizes physical space to create a three-dimensional interface, merging the virtual and physical worlds. It also transforms any space into a personal cinema. Vision Pro enables users to interact with digital content as if they were physically present in their own space, and its innovative design features a high-resolution display system with 23 million pixels spread across two displays, powered by customized Apple silicon to make every experience appear and manifest in real-time. The product launch at WWDC2023 (Apple’s annual developer conference) signifies a new vision for the future of computing, introducing a new way to interact with software, documents, and multimedia experiences by dematerializing the PC, smartphone, or tablet screen and merging with the surrounding reality through the overlay of digital images with 3D vision “through the visor.”


Virtual Technology and Business

Recently, there have been various applications of virtual reality in the business world, generating increasing interest among a specific target audience. We are now at the dawn of a new era, and it is important to understand the line between the desire to possess an object capable of generating a dystopian idea of reality and the actual manifestation of a utopia produced by spatial computing. Supporting the production of such an advanced product remains a complex challenge, especially when introducing specific areas of use for the headset. One prediction is the increase in productivity in the workplace and the promotion of personal communication through a new three-dimensional and immersive mode. In fact, virtual reality and business are converging. The possible applications of the Vision Pro product are still being analyzed, but it will mainly focus on vertical markets, particularly those related to advanced engineering. For industry specialists, Apple Vision Pro represents a turning point for a series of innovations and technologies that also benefit other products (such as interactive widgets and functions like AirPlay and AirDrop).


The Future of Mobile Payments and Biometric Identity

Technology is advancing at an extremely rapid pace, and in this context, biometric data plays a significant role. Biometric systems that utilize physical characteristics such as fingerprints, iris scans, or voice have proven to be more reliable and difficult to counteract compared to traditional passwords. For example, facial recognition technology made its way into the mainstream with the arrival of the iPhone X, and now the concept of biometric payment is emerging. Biometric payment refers to a point-of-sale (POS) technology that uses biometric authentication based on physical characteristics to identify the user and authorize the deduction of funds from a bank account. Fingerprint-based payment, utilizing fingerprint scanning, is the most common form of biometric payment, often employing two-factor authentication, where fingerprint scanning replaces the card swipe, and the user enters a personal identification number (PIN) as usual. This method is poised to take off, with an estimated 80% of smartphones integrating biometric data for authenticating payments totaling $2 trillion per year worldwide by 2023, starting from the projected $1.245 trillion this year. Additional biometric authentication methods include:

  • iris recognition
  • retina recognition
  • facial recognition
  • DNA matching
  • signature recognition
  • voice recognition
  • vein patterns

Login and Iris Scanning Beyond Mobile Payments

Authorizing payments through a person’s biometric features and using smartphones as fingerprint readers are becoming the new frontiers of online purchases. The device used to perform facial recognition and scan the iris to approve an in-store payment has become a comprehensive payment tool, revolutionizing the traditional consumer experience. Today, we are pushing beyond the boundaries of Mobile Payment with the introduction of new biometric payment prototypes that go beyond the smartphone as an identity reader. This has also sparked some speculation about the recently announced Apple visor. The device will integrate hardware components for iris scanning, allowing users to leverage this functionality to log into their accounts and authenticate payment transactions. Despite many users still relying on passwords, the Apple visor, equipped with 14 cameras, has incorporated the necessary hardware components for iris scanning, introducing more secure alternatives to Touch ID (fingerprint recognition) and Face ID (facial recognition).”