NEW YORK -- Voice Pay, the world's first voice-verified payment processing system, launches today and is set to change the way that mobile and Internet payments are conducted.
In a move that will substantially reduce the threat of credit and debit fraud, the Voice Pay system uses the customers own voice as a means of digitally signing and authorising payments. It incorporates VoiceVault voice biometric authentication technology which is already in use by global banks, insurers and public sector organisations.
With its use of biometric, anti-phishing and anti-fraud technologies, Voice Pay can provide payment guarantees to consumers and business users processing any size of transaction from a penny upwards.
Chief Executive Officer of Voice Pay, Nick Ogden, believes that the use of voice biometric technology will improve security and consumer confidence making it far safer for shoppers to buy goods and services. "Using Voice Pay is secure, quick and easy. No special software or hardware is required - just access to a phone," he says.
"Consumers complete a short, one-time only enrolment process during which a few spoken words are used to generate a unique biometric voiceprint. Subsequently whenever a purchase is made, the user voice verifies the transaction over the phone or Internet," Ogden adds. No special software or hardware is required.