Voice Commerce launches VoicePay® capability
16 Jun 2010:
Financial services group Voice Commerce has launched On4, the first e-commerce platform with VoicePay® capability and a fully integrated m-commerce application, aimed at new and existing online retailers.
The new system is customisable and allows both e- and m- commerce from the same store front, and incorporates an instant merchant account for processing payments and card transactions.
The step by step process allows retailers to set up and build a fully-functioning store that will process Level 1 PCI compliant payments through the Voice Transact Payment Network.
Retailers can accept Visa, MasterCard and American Express payments, and can also automatically deploy the VoicePay® biometric payment system to process secure mobile payments.
The VoicePay® network, which is patented, guarantees payments made on an individual e-account against fraud or personal information loss, and also offers a simple and secure way for e-retailers to process any type of e-money transaction.
The VoicePay® account allows authorisation of financial transactions and identity confirmation via mobile phone using a pre-stored Voice Signature™. Account holders click on the VoicePay® icon on an On4 retailer’s website, and this triggers a call to their mobile phone where they can authorise the transaction using their own unique Voice Signature™.
Existing retailers can use On4 to support their m-commerce activities.
“There are currently three times as many people who own a mobile phone than use the internet,” said Nick Ogden, CEO, Voice Commerce Group, “which makes the mobile channel a huge opportunity for retailers. On4 helps them capitalise on this, starting at an online store level and then providing an m-commerce consumer solution through VoicePay, which makes the environment easier and safer to purchase within.
“As consumers begin to increasingly use their mobile phones to make e-money transactions however, we believe that security will become a significant concern. Voice Commerce Group is a regulated financial institution and has chosen to guarantee all of its payments. By doing this, we hope to develop consumer confidence in the mobile marketplace, just as we did in the e-commerce marketplace in 2001 when we created the Internet Payments Guarantee Solution.”
Are voice signatures secure enough to authenticate payments?
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