ValidSoft Enables Automotive Mobile Payments Partnership with EIT Digital and Ingenico
Driving Automotive and Voice/Conversational Commerce
Voice Commerce, also known as Conversational Commerce, is estimated by Juniper Research to be a market worth $80 billion annually by 2023, and projected to grow at a CAG rate of 35%. Voice Commerce, as the name implies, is the use of the human voice as a user interface to applications, rather than keyboards and mouse or touchscreen clicks. Whereas automated speech recognition (ASR) technology has been around for years, it was previously limited to short answers such as yes/no or digits in order to achieve reasonable accuracy levels. Advances in AI and Natural Language Understanding (NLU) have propelled Voice Commerce into a natural, conversational experience that is truly hands free and is capable of being deployed on virtually any device that contains a microphone.
Whilst many people would associate Voice Commerce with smart speakers in the home such as Google and Alexa for limited repeat purchases, Voice Commerce is so much wider in its application and reach. One of the key areas where Voice Commerce is making major inroads is in-vehicle purchases/payments, an area of major investment by both vehicle manufacturers and payment processors alike. As Voice Commerce continues to grow, including in-vehicle commerce, it is apparent that a lack of security would be a major impediment to its use, given strong authentication of the purchaser is a pre-requisite for many transactions and in fact legislated under EU PSD2 requirements for Strong Customer Authentication (SCA). Being able to understand spoken instructions is no longer enough when it comes to payments; being able to identify who spoke the instructions is paramount.
ValidSoft is at the forefront of this technological movement with its advanced voice biometric engines, capable of being deployed within vehicles as well as operating in connected cloud environments. Together with EIT Digital and Ingenico, part of the Worldline group and the largest payment processor in Europe and the fourth largest globally, ValidSoft is providing the voice biometric authentication for in-vehicle purchases of fuel in Argentan, NW France.
Please see the EIT Digital announcement here (EIT Press Release).
The solution uses passive, free speech meaning that the users are seamlessly authenticating themselves whilst instructing the payment app to purchase fuel at the pump without any need for human interaction or physical contact, an additional benefit in times of pandemic. The same solution can of course also be used for in-game purchases for the video game industry. Additional use-cases in the automotive sector include booking electric recharging stations, pre-ordering meals and hotels and toll payments, all from the comfort of the car. The growing collaboration between Ingenico and partner brands within this payment eco-system will see in-vehicle purchases becoming commonplace.
The collaboration of ValidSoft and Ingenico for this in-vehicle application shows how voice biometrics is intrinsic for Voice Commerce applications, regardless of legislated requirements. Voice is fast becoming the new user interface of choice, and with virtually all web-browsers supporting voice, the adoption of Voice Commerce will become ubiquitous across all devices, not just smart-speakers and in-vehicle apps. Seamless, invisible authentication and identification of speakers will be mandatory for Voice Commerce applications, with ValidSoft, the world’s most accurate voice biometric technology and Ingenico, one of the world’s largest payment processors, leading the way.