Monday, June 11, 2007

Voice Pay | Online payment system based upon voice

Internet is growing and so is e-commerce and online payments. But the biggest threat, phishing or frauds, to online payments still looms large.

Voice Pay is the latest method for online payment based upon voice recognition, where your voice acts as a verification tool instead of a PIN or chip. On every payment order, you have to enter you PIN vocally, your speech components are analyzed and compared with the sample given by you at the time of the registration of the service. On authorization, the transaction is completed.

They claim that the technology works everywhere, “ in a shop, on a train, on TV, in a newspaper and on-line”. But definitely it will have its limitation in case of poor signal or voice quality.

Let's see, how far does the system goes.