Lenskart UPI feature
Lenskart has introduced a new feature in its upcoming B Camera Smartglasses, which is called Direct UPI Payments. With the help of this new feature, now users can complete the transaction instantly by just scanning the QR code with their smart glasses, neither phone number nor PIN will be required for this. The company has informed about this innovation at the Global Fintech Festival in Mumbai. Lenskart B Camera Smart Glasses, which will be launched in the next few months, also include ease of operation along with advanced eye wear design.
How will it work?
Direct UPI integration securely links these glasses to the user’s bank account, making it possible to complete authentication and payment with just a voice command. Due to this feature, there is no need to take out the phone or enter the PIN manually during shopping. The company said that the UPI Circle feature of National Payments Corporation of India (NPCI) securely connects the glasses directly to the individual’s bank account, with the aim of making every transaction secure, private and real-time verified.
Piyush Bansal, Chairman, CEO and Co-Founder, Lenskart, said that the role and use of smart glasses will continuously evolve in our lives and payments have become an important part of our daily activities. By integrating payment into the camera of smart glasses, our aim is to make it a seamless payment form. This move will give significant technological edge to Lenskart. Equipped with an advanced on-the-go Point of View (POV) camera and built-in AI features, B Camera Smartglasses integrates vision, intelligence and commerce with this UPI functionality.
there is so much business
According to industry estimates, global smart glass shipments are set to more than triple by 2022. According to market research by IMARC Group, the AR and VR eyewear market in India is projected to reach $608 million by 2024 and reach $1.67 billion by 2033 driven by demand in gaming, healthcare and education.
The global smart glasses market, currently valued at more than $6 billion, is expected to reach $15.08 billion by 2032, growing at a CAGR of 10.3%. According to Counterpoint Research, Meta is leading the segment with its Ray-Ban Meta line and will capture more than 60% of the global market share by 2024. Apple and Google are also in this race. Xiaomi, Samsung, Baidu and ByteDance are expected to launch products by 2025-26.