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Payment system uses voice print as signature
A British voice-recognition firm is rolling out back-end software to accompany its voice payment system that's been on the market for just over a year. Voice Commerce Group added Voice Transact to its Voice Pay system. The system verifies a caller's identity using his voice signature, which can be used to pay for goods, transfer funds or withdraw cash.
The Voice Commerce Group (VCG) has announced the development of a banking system that will enable the use of biometrics-based "voice signatures."
"Voice Transact uses a voice biometric to pull together the retail and Internet banking sectors of the market, and will also open up the mobile payments market," VCG chief executive Nick Ogden said.
In addition, Ogden added, the voice biometric system will help reduce security issues, including the major issue of online identity fraud.
