Voice Commerce Group is planning to launch a new system which can be used to make payments and other financial transactions, it has been claimed.
The new technology, called Voice Transact, will be aimed at financial institutions and will allow consumers to use 'voice signatures' when they wish to pay for something or buy a product over the phone, ibspublishing.com has reported.
Nick Ogden, who set up the organisation, told the publication that voice signatures will be stored in the system Interactive Voice Response technology will be used to verify their identity.
With regards to banking standards, the website has reported: "Voice Transact will support the Visa and Mastercard Level 1 PCI security standard, the recently unveiled voice biometrics standard, ISO 19029, and the EU certification for exchanging digital certificates within Sepa."
Meanwhile payment provider PBS has said it will launch a new Sepa solution for financial institutions across Europe that combines Sepa Direct Debit and Sepa Credit Transfer, according to bobsguide.com.
