India

On Wednesday (Sept. 25), the first of Meta’s two-day Meta Connect 2024 conference, Meta CEO Mark Zuckerberg unveiled an ambitious vision for the future of wearable technology.

The event showcased significant innovations, particularly the highly anticipated Orion augmented reality (AR) glasses, which aim to redefine how users engage with digital content in their everyday lives.

The Meta Quest 3S headset was also introduced, offering high-quality immersive experiences at an accessible price point. These advancements reflect Meta’s focus on integrating innovative technology into daily routines, enhancing both personal and social interactions.

Meta’s new product announcements embody what Zuckerberg termed as “the future of human connection.”

Zuckerberg introduced the Orion prototype, a project a decade in the making that aims to revolutionize wearable technology. Designed to be lightweight (under 100 grams) and resembling regular glasses rather than a headset, Orion features bright, wide field-of-view displays for multitasking and entertainment. It allows users to see the physical world while overlaying digital content, rather than just using passthrough technology.

A major focus of Zukerberg’s keynote was a demonstration of the Orion AR glasses. These glasses are designed to integrate visuals directly into the lenses, offering a new level of augmented experiences. Unlike the existing Ray-Ban smart glasses, which do not feature screens, the Orion prototype promises to deliver more immersive AR functionalities. While they are not expected to be available for immediate purchase, seeing them in action provides a glimpse into Meta’s vision for the future of AR technology.

“Orion are the most advanced glasses the world has ever seen,” Zuckerberg said during his keynote address to open the conference.

Orion is equipped with advanced voice controls, hand and eye tracking for intuitive navigation, and a discreet interface for user interaction. The device incorporates ten custom silicon chips and a novel display architecture, alongside an EMG wristband for seamless input. This prototype represents a significant leap toward achieving a new wave of human-oriented computing, enhancing social interactions across distances.

Zuckerberg announced the launch of the Meta Quest 3S, set to release on Oct. 15 for $299. This new headset features the same advanced processing capabilities as the Quest 3, but at a more accessible price point. The Quest 3S is designed for high-quality mixed reality experiences, boasting 4.5 times the resolution and improved graphics compared to its predecessor, the Quest 2. With an emphasis on comfort and usability, the Quest 3S is positioned to attract both casual gamers and serious virtual reality (VR) enthusiasts.

According to a Wednesday blog post from Meta, consumers can try its entry model 128GB Quest 3S, upgrade to the 256GB SKU for more storage, or try the 512GB Quest 3 for $500. Additionally, all three headsets will include the game “Batman: Arkham Shadow,” as well as other content that includes access to streaming services and fitness apps.

Meanwhile, earlier this month at the China International Optoelectronic Exposition (CIOE), Gyges Labs unveiled DigiWindow, the world’s smallest near-eye display, the Singapore-based company said in a Tuesday (Sept. 24) news release. The launch marks a significant advancement in AI glasses and addresses the current market’s challenges, as many existing models remain bulky and impractical for everyday use.

DigiWindow, measuring less than 0.1 cc, integrates seamlessly into regular eyeglass frames, providing a discreet way to display information visible only to the wearer, the company said. This feature enhances user privacy and comfort, offering a full week of battery life. DigiWindow “offers clear advantages in weight, size, light leakage, and cost,” ensuring a more user-friendly experience, according to the release.

Gyges Labs’ officials want to make AI glasses as ubiquitous as smartphones. Founder Jia Jieyang emphasized the goal of empowering individuals with this technology, stating: “Our aim is to make AI glasses as common as smartphones, moving beyond niche tech enthusiasts and into everyday life.”

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Indian eCommerce giant Flipkart is getting into the reCommerce business.

The company on Wednesday (Sept. 25) introduced “Flipkart Reset for Business,” a mobile app designed to help small and big sellers of refurbished products across the country to connect with last-mile customers.

“The demand for refurbished products is surging, especially in India’s tier 2 and 3 cities,” the company said in a news release.

“However, sellers of refurbished products face significant challenges, including consumer skepticism about quality of refurbished products, inconsistent device supply, complex logistics, and a lack of standardized refurbishment practices.”

Flipkart says its news app helps alleviate these issues by offering competitive pricing, streamlined onboarding, “rigorous testing” and a 74-point quality check, which back every product with a warranty, “instilling confidence in sellers and their customers.”

According to the release, the platform serves more than 800 cities across India, with plans to expand the program “significantly.” At the moment, the platform sells smartphones and accessories, aiming to address a market for refurbished electronics goods in India that could grow to $11 billion in gross value by 2026.

In other reCommerce news, Amazon announced last week that it had begun offering independent sellers using Fulfillment by Amazon (FBA) in the U.S. a new option for managing product returns: Grade and Resell.

This program, which before now was just available to retail brands, provides a reseller channel that helps merchants recover value on returned inventory and gives customers a greater selection of preowned and open-box products, Amazon said.

In this program, items that are sent back to Amazon’s return centers are examined and then offered for resale, the eCommerce giant said.

“Before an item can be sold through Grade and Resell, we conduct a comprehensive inspection to thoroughly test the condition of each item and provide a detailed description of its condition to make it easier for customers to make a more informed purchase decision,” Gopal Pillai, vice president, worldwide returns and reCommerce at Amazon, wrote in the post. “For electronic items, we will power on, test and factory-reset as part of the evaluation.

“Based on the quality check, each item will be assigned one of four listing conditions: ‘Like New,’ ‘Very Good,’ ‘Good’ or ‘Acceptable,’” Pillai added.

Visa is working with firms like Paytm and PayU to promote digital payments usage in India.

The company unveiled the products and solutions at the center of these partnerships during the Global Fintech Fest 2024, Visa said in a Saturday (Aug. 31) news release.

“These advancements, developed in collaboration with a range of partners, are set to drive digital payment adoption across India by streamlining payment processes and enhancing transaction security and customer experience,” the release said.

Among the collaborations is one with Indian FinTech Paytm to create the Paytm NFC Card Soundbox, described as India’s first two-in-one device that combines mobile QR payments with a card machine for offline merchants. 

Meanwhile, Axis Bank, working with Visa and Mintoak, has rolled out Neo for merchants — a mobile app for payment acceptance, transaction reporting, and service requests. 

And PayU and Visa had introduced PayU Push Provisioning, a platform that “facilitates seamless sharing of card tokens between merchants and banks via a unique-single platform,” the release said.

Visa is also working with HSBC Bank on two projects: a point-of-sale (POS) device that integrates QR scanning and a soundbox, and the HSBC Premier Signature Debit Card, which offers benefits such as hotel perks, higher spending limits, special dining offers, and global airport assistance.

India’s digital transformation is a topic that has been covered at length in this space, with PYMNTS writing that the country “traditionally reliant on cash, embarked on a digital payments journey 15 years ago.”

“The process was marked by key milestones like the introduction of the instant Unified Payments Interface (UPI) in 2016,” that report continued. “The 2016 de-monetization further accelerated the transition to digital payments, leveraging the existing trend of Indian citizens using mobile phones for various transactions.”

Research by PYMNTS Intelligence has found that digital wallets have become the preferred payment method for more than half of all retail purchases in India, with 8 out of 10 of digital wallet users opting to use UPI. Bank transfers are the second-most used underlying payment method, making up 12% of digital wallet payments. 

“This preference for digital wallets and UPI reflects the convenience and ease of use they offer to Indian consumers,” PYMNTS wrote.

Mastercard chose India for the launch of its Payment Passkey Service.

The online checkout security measure comes as India is dealing with a surge in fraud cases, according to a Thursday (Aug. 29) press release.

“Despite the rising popularity of one-time passwords (OTPs) due to their ease of use, they are increasingly vulnerable to online scams such as phishing, SIM swapping and message interception,” the release said. “In India, the incidence of fraud cases has surged by nearly 300% in the last two years, as reported by the Reserve Bank of India’s Annual Report for 2023-2024.”

Payment passkeys can help ease the problem by using device-based biometric authentication methods like fingerprints or facial scans to streamline online shopping, per the release. Mastercard’s service uses tokenization to secure a consumer’s payment details and biometric data, ensuring data is not shared with third parties and is of no use to scammers.

Shoppers choose their Mastercard when checking out as a guest or pick a card already on file with the merchants, according to the release. Customers can confirm payment via biometric authentication mechanism features on their devices. This could be a fingerprint, face scan or PIN. Payments are completed instantly upon authentication.

The development and use of passkeys is arguably one of the most important security stories of the year, PYMNTS wrote in May, following product announcements from Mastercard and Visa that revolved around the technology.

Meanwhile, the PYMNTS Intelligence report “Consumer Authentication Preferences for Online Banking and Transactions” found that consumers want to use passkeys or any authentication tool that doesn’t involve entering a password. Younger generations especially are ready to get rid of passwords in favor of more advanced identity technology, such as biometrics.

“But like most habits, traditional password authentication use is hard to break,” PYMNTS wrote in January. “Fast Identity Online, the global digital password-less authentication standard, has been trying to move away from password authentication for over a decade.”

Mzukisi Rusi of Entersekt told PYMNTS in 2022 that it would take time to uproot the decades-old authentication system.

“As much as we hate it from a security perspective, people still find [passwords] pretty easy,” Rusi said. “They are fairly ubiquitous, and they don’t need any special technology.”