New payment system may be coming soon…
A new pay system is generating some exciting buzz in the credit card world. Introducing ‘Voice Pay’, a digitally enhanced, voice recognition authorization system for credit purchases. No special software or hardware is needed, no PINs, no mother’s maiden name and no social security number are necessary. Enrollment is easy– just fill out a short, one-time form during which a few spoken words are used to generate a unique voiceprint. Purchases are verified over the phone or internet using this voiceprint. An account can also be linked to a physical or virtual MasterCard or Visa.
Consumers will call a national number and authorize payments over the phone using their unique voiceprint as a digital signature. Not only will the new ‘Voice Pay’ system be convenient, it will offer consumers additional safeguards such as the benefits of integrated anti-phishing technology to ensure confidence in their shopping experience.
The patent pending process was developed by Chief Executive Officer of Voice Pay, Nick Ogden, who founded the Internet payment processor, WorldPay, before it was sold to the Royal Bank of Scotland in 2002. He was also the first person to guarantee internet payments and built Europe’s first online store. Ogden and Biometric Security worked for more than a year developing and refining the technology and processes that are now encapsulated in the Voice Pay payment processing system.
If Voice Pay technology takes hold like Chip and Pin technology, it could strike a deadly blow to identity theft, phishing and credit card fraud. For more information visit: http://www.voicevault.com.