With the natural language speech recognition (NLSR) market set to explode, according to some industry observers, one Australian NLSR integrator has developed a transaction platform which enables spoken payments over the phone.
ASX-listed VeCommerce unveiled its voicepay platform at the Customer Contact World conference in Sydney this week which it claims will reduce enterprise call centre costs considerably.
The system works via a question-response model in which the user talks directly to the computer system rather than a call centre operator. Credit card details and payment specifications can be given over the phone which then interface directly with the company's financials applications to bill the user's bank or customer account.
The company, which had its origins as a network integrator before moving into speech recognition, developed the voicepay solution after deploying an earlier version into TAB Queensland. The initial TAB version allowed punters to place bets over the phone using their TAB accounts. Since then VeCommerce has been working to expand its functionality to include payment by credit cards as well as existing customer accounts.
Paul Magee, managing director of VeCommerce, believes the system will be far more attractive to customers than existing integrated voice response (IVR) menus such as B-Pay.
According to Magee, the voicepay system also allays security concerns, claiming it eliminates the risk of call centre staff from misusing sensitive credit card information.
VeCommerce is targeting five vertical markets with voicepay including the waging and gaming, ticketing and transport, financial services, utilities and government services industries.