Developed in the United Kingdom, the first voice-verified payment processing system has recently been launched, substantially reducing the threat of credit and debit fraud.

The Voice Pay system uses a customer’s own voice as a means of digitally signing and authorising payments. It incorporates VoiceVault voice biometric authentication technology that 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.

No special software or hardware is required, just access to a phone. 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.

The innovative system gives consumers new freedoms to buy, using their mobile phone from a TV or print advertisement instantly or pay for goods in a shop. Buyers simply call the national Voice Pay number and authorise payments over the phone using their unique voiceprint as a digital signature.

Consumers using it via the Internet can benefit from integrated anti-phishing technology that ensures total confidence in the stores that process payments with Voice Pay.

Consumers are not the only group to gain from the service. Voice Pay also offers merchants low-cost credit and debit-card payment processing services. In addition, merchants that use the system for payment processing can benefit from other voice technologies, including ‘click-to-call’ integrated telecoms capabilities for their business.

Voice Pay says it is cost effective, easy to use, works anywhere in the world and whenever the retailer receives a signed Voice Pay payment, the transaction is guaranteed.