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Excerpt from p19: > Embedded finance is an innovation that could shape the retail payments experience. This is where financial services, and in particular paym
by OJFord 4y ago
Excerpt from p19:
> Embedded finance is an innovation that could shape the retail payments experience. This is where financial services, and in particular payments, are integrated into another industry’s service, function or feature. Examples include, ‘one-click’ purchases of goods via social media platforms, ‘in-game’ payments or, in the future, marketplaces and transactions in the metaverse.
Does the author question that or realise what they're writing at all, or is it just a case of researching and regurgitating buzzwords? 'The metaverse'... it should be a defined term, and then removed from the document because they realise it doesn't mean anything, or that you can't define it in a sensible way that '[future] transactions in the metaverse' isn't just me shopping on amazon.co.uk today.
I do slightly envy working on something with 3y of technical design (after a year of research to give it the go ahead) before anything gets built though. Perhaps that's too much, but a middle ground, or I envy some aspects of it.
- gilleain 4y ago> 'The metaverse'... it should be a defined term From what I've seen so far, 'shopping in the Metaverse' means 'like Amazon, but in 3D!'. So, filling a virtual shopping cart (with virtual wonky wheel?) with virtual items in VR... I could be wrong, but like many things in a Metaverse, it seems not just pointless but actively worse than the experience of '2D' shopping in a normal website.
- OJFord 4y agoYes, but it's just not a relevant distinction for the purposes here is it? It's just online/in-app payments, the way the website/app is rendered is completely irrelevant.
- gilleain 4y agoTotally agree :) I don't see any distinction between buying products in a Metaverse or other similar VR environment, and clicking on 'Add to cart' in a website. Indeed there is often no difference between buying online and IRL. If I go into a physical store and buy something to be delivered, this is rarely different to doing the same online. Fraud is a possible distinction, but otherwise ...
- Izkata 4y agoI think the distinction, at least in Facebook's version of it, is that you're already in VR for whatever (work, social) and don't have to turn off the headset and go to a different site to do the shopping. Even if it's Amazon in VR, they get to keep you in their system.
- sgtnoodle 4y agoI think you're on to something. A VR grocery store that's perfectly curated, linked up to Instacart. A search feature that teleports you to the exact aisle. A variety of weapons that allow you to eliminate products you hate, and hidden power-ups that give you 5% off the order. Goat/Zombie mode?