Money Transactions are more secured by voice payment system
A new technology will enable users to make credit card payment through Voiceprint . Every time an account holder makes a purchase, he will be able to make payment using his mobile phone. The technology shall identify and use the unique voiceprint of the account holder to authenticate the payment. The logic behind this technology is that each person has a unique voice and hence a unique voiceprint.
The aforesaid technology uses a speech authentication algorithm. It analyses 117 voice parameters that are wholly unique to an individual''s vocal chords and the shape of the inside of the mouth and nasal cavity. Even a voice impersonator, who might sound like the user, cannot mimic certain subtleties naturally present in a person''s voice.
The technology makes up for the limitations of the credit card and ePayment system wherein the unique pin number, if stolen, resulted in theft of the concerned person’s account. Moreover, even if an account holder does not have access to the internet, he can still make his purchase as long as he has a phone.
But there’s a limitation to this technology. What if a user is having a throat problem, say a hoarse throat? Although, the company responsible for developing this technology has not clarified anything on these lines but with such advanced and sophisticated systems there certainly must be a mechanism to counter such problems.
On a whole the technology sure seems promising for a more secured world for money transactions.