Business Standard
 
IPO-bound eyewear retailer Lenskart has revealed a new feature of its upcoming B Camera Smartglasses -- direct UPI payments. Users can now instantly complete transactions by simply scanning a QR code with their smartglasses, requiring neither a phone nor a PIN. The company unveiled the innovation at the Global Fintech Festival (GFF) in Mumbai.
 
Planned for launch over the next few months, the Lenskart B Camera Smartglasses integrate advanced eyewear design with operational convenience. The direct UPI integration securely connects the glasses to the user's bank account, enabling authentication and payment completion solely through voice commands. This feature removes the need to pull out a phone or manually enter a PIN during a purchase.
 
The company said the UPI Circle feature from National Payments Corporation of India (NPCI) securely links the eyewear directly to one’s bank account, with an aim to ensure that every transaction is safe, private, and verified in real time.
 
“The role and use of smart glasses in our lives will continue to evolve and payments are an important part of our daily activity. By integrating payments into the camera of smart glasses, we intend to make this a seamless form of payments,” said Peyush Bansal, chairman, chief executive and co-founder, Lenskart.
 
The move will give Lenskart a significant technological edge. Equipped with an advanced on-the-go point of view (POV) camera and built-in AI features, the B Camera Smartglasses, with this UPI functionality, merge vision, intelligence, and commerce.
 
In July, Lenskart invested in Mumbai-based Ajna Lens, a deep-tech startup specialising in extended reality (XR) and AI-powered wearable tech. The deal, the value of which remains undisclosed, marks Lenskart’s first serious bet on AI-enabled smart glasses.
 
Ajna’s tech is likely to power the next generation of smart eyewear for Lenskart, which already offers ‘Phonic Smart Glasses’ — Bluetooth-enabled glasses that allow users to take calls, play music and interact with voice assistants. But this new move takes the company deeper into wearables with AI and spatial computing at the core.
 
Globally, smart glasses shipments have more than trebled since 2022, crossing 2 million units in 2024, industry estimates show. In India, the AR and VR eyewear market touched $608 million in 2024, and is projected to hit $1.67 billion by 2033, thanks to demand in gaming, health care, and education, according to IMARC Group, which is involved in market research.
 
But the race is intensifying. The global smart glasses market, currently valued at over $6 billion, is expected to reach $15.08 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.3 per cent.
 
Meta dominates the space with its Ray-Ban Meta line, holding over 60 per cent of the global market in 2024, according to Counterpoint Research. Apple and Google are also in the fray. Xiaomi, Samsung, Baidu, ByteDance are expected to roll out products over 2025-26.