Eyewear major Lenskart unveils smart glasses with UPI payments ahead of IPO

Lenskart launches UPI-enabled smart glasses ahead of IPO.

Expert Analysis :

• Product Launch: IPO-bound Lenskart unveiled its B Camera Smartglasses with direct UPI payment capability at the Global Fintech Festival in Mumbai, enabling users to complete QR-based transactions instantly without a phone or PIN.

• Upcoming Launch: Set to debut in the coming months, Lenskart’s B Camera Smartglasses will feature direct UPI integration, securely linking to users’ bank accounts and enabling voice-command authentication for seamless, phone-free and PIN-free payments.

• Secure Payments & Leadership Insight: NPCI’s UPI Circle links the smartglasses directly to users’ bank accounts for safe, private, real-time transactions, while Lenskart chairman Peyush Bansal emphasized that this integration makes payments a seamless part of daily life.

• Technological Edge: Lenskart’s B Camera Smartglasses combine an advanced POV camera, built-in AI, and UPI functionality, while its July investment in Mumbai-based Ajna Lens marks the company’s first major bet on AI-enabled smart eyewear.

• Global Shipment Growth: Smart glasses shipments have more than trebled since 2022, surpassing 2 million units in 2024, according to industry estimates.

• Indian Market Potential: India’s AR and VR eyewear market reached $608 million in 2024 and is projected to grow to $1.67 billion by 2033, driven by gaming, healthcare, and education demand, per IMARC Group.

• Competitive Landscape: The global smart glasses market, valued over $6 billion, is expected to hit $15.08 billion by 2032 at a 10.3% CAGR. Meta leads with 60% market share in 2024, while Apple, Google, Xiaomi, Samsung, Baidu, and ByteDance plan product launches in 2025-26.