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News

Voice authorised payment system for TV adverts

Voice Commerce Group : 16 December, 2008  (New Product)
Biometric characteristics of voice patterns used to create authorisation signature which can be used for payment transactions originating from on-screen advertising
Voice Commerce Group announces the launch of VoicePay TV, a new payment processing service that enables any product or service to be sold instantly via any TV or IPTV programme.

The system enables businesses that have signed up to the service to place a VoicePay logo, free-phone number and unique VoicePay product code into any video advertisement. When a customer sees an advert showing a product they wish to buy, they call the VoicePay number and authorise the transaction by 'signing' for purchase with their voice.

Businesses benefit almost immediately as there is a much shorter gap in the purchasing lifecycle between grabbing a customer's attention and selling them the product - they no longer need to rely on the customer to remember their advert or product before visiting the retailer's website at a later date. Businesses can also now see a measurable return on investment from advertising - all incoming calls from customers can be traced back to product codes from exact adverts and locations, allowing businesses to monitor the effectiveness of certain campaigns. The VoicePay network already covers over 50 countries and is fully integrated with the Visa and MasterCard networks.

VoicePay TV not only opens up a new revenue channel for large broadcasters and advertisers but also benefits small businesses which use IPTV systems such as YouTube to promote their products. At only £150 per year, with no transaction charges for the first £10,000 worth of sales, businesses that are looking to maximise investments in the current economic downturn can extend their sales distribution easily. VoicePay TV also supports any type of payment including e-commerce and mobile commerce.

Consumers can quickly create a free-to-use VoicePay account which is used with their unique voice signature, a complex device consisting of an individual's voice biometrics as well as their purchasing history, trends and location patterns. Voice signatures are highly secure as they are unique to every individual and cannot be imitated - even by recording someone's voice - mitigating the risk of loss from fraud for the company. For consumers the risks of phishing and ID theft are removed as they no longer need to input their credit card details every time they want to purchase goods. Once they have opened a VoicePay account they can buy products with a VoicePay code anywhere, at any time, anonymously. A nominated credit or debit card linked to their voice signature is used to make payments and consumers simply call and sign for any purchase using their voice for authentication. Removing the need to provide credit card and delivery details for every purchase significantly reduces the time it takes to complete a sale, benefitting time-sensitive transactions such as buying sought-after concert or gig tickets as soon as they go on sale.

Nick Ogden, founder of Voice Commerce Group and Voice Pay TV said "We were an e-commerce pioneer building Europe's first online store, then a leader in mobile payments. Now video commerce is leading the way in the evolution of payments which can be processed anywhere, on demand. If you're trying to sell in these tough economic times VoicePay TV really helps integrate the sales link between video broadcasting and your customers, changing the dynamics of business and creating a real opportunity in video advertising. Our Voice Signatures overcome the challenges of using other payment tokens or mechanisms because they do not require additional devices, passwords or pins and, after all, consumers now carry their own voices as well as their mobile phone wherever they go."

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