Posted by Kristen Jason on 05 May 2022
*Originally published on CUInsight.com
In 2009, Bruce Willis starred in a movie called Surrogates, featuring a futuristic world where humans interacted through surrogate robots. At the time, the thought of living a life by proxy seemed otherworldly. However, if you’ve noticed the accelerating number of headlines about the concept of a virtual second life is being embraced by major corporations.
So what is the metaverse? According to the NY Times, the metaverse is the convergence of virtual reality and a digital second life where virtual reality serves as a computing platform for living a second life online. In short, you and your avatar interact with others in a digital, virtual reality environment. This is seen as a step into ‘ambient computing’, which according to Digital Trends is “an environment of smart devices, data, A.I. decisions, and human activity that enables computer actions alongside everyday life, without the need for direct human commands or intervention”. This is not a foreign concept for gamers, as social elements of the metaverse are already there in games like Fortnite. For the rest of us, the metaverse is still very important to understand as it’s now attracting big business.
Here are five news stories that we find interesting about the metaverse as it relates to payments:
As the year progresses, we expect to see many more stories like this. The growing popularity of the metaverse demonstrates the importance of having a modern payments platform that allows your financial institution to quickly innovate in response to the industry trends.
To learn more about what to expect this year, read the article, Payments in 2022: What You Need to Know.
Today’s legacy and siloed banking technology infrastructure limit financial institutions’ ability to rapidly innovate. It’s time to look at money movement in a new way. Alacriti’s Orbipay Unified Money Movement Services does just that. Whether it’s real-time payments, digital disbursements, or bill pay, our cloud-based platform enables banks and credit unions to quickly and seamlessly deliver modern digital payments and money movement experiences. To speak to an Alacriti payments expert, please call us at (908) 791-2916 or email email@example.com.
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