PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Americans Looking Forward To Paying With Face, Voice Technology, Say Paper Checks Will Become Extinct

By Joseph Walent
July 10, 2017
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
voice technology

Business strategy plan over ladder leading to success

 One of the attractive aspects of digital banking to many of us is the automation and digitization of the payment of bills. The article hones in on how consumers are coming to expect the migration to digital payments to be taking place. How will face and voice technology affect payments? The interesting aspect the article centers on the various authentication and verification methodologies that are either being employed, or are anticipated to be utilized.

Here’s a breakdown of how Americans see futuristic payments:

• Fifty percent of U.S. consumers say fingerprint technology will be used for authentication to pay and receive payments over the next decade. This is something we already see with iPhones and Apple Pay when people use their fingerprint to pay at stores and to pay for apps on their device.

• The survey found 35 percent of respondents see facial recognition as a vital authentication technology for making payments within the next ten years, while 32 percent of consumers say they trust the technology for securing e-payments. Some people already use iris scanning to make payments with Samsung Pay. However, facial recognition still needs some work for it to be completely secure.

• Viewpost found 31 percent of Americans see retinal scanning as a feasible technology for verifying payments, while 18 percent said they see themselves using voice control to make purchases within the next 10 years. People can already make purchases through voice control, like when telling an Amazon Alexa device to order something online.

Mercator Advisory Group recognizes the transition for regular consumer bill payment, such as utilities, subscriptions, and loan repayments has been underway for some time. We anticipate that authorization of payments on electronically received invoices will increasingly be tiered, with higher levels of identity verification and authentication taking place relative to the value of the transaction. We also anticipate the wider use of personal digital financial assistant software, and the use of voice and face technology, will increase with consumers to better capture, organize, review, and pay digital bills. Primary financial institutions will be instrumental in this transition for many consumers. We touch on these trends in our upcoming report, Banking as a Platform, publishing soon.

Overview by Joseph Walent, Associate Director, Customer Interactions Advisory Service at Mercator Advisory Group

Read the full story here 

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Voice Payments

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    Making Real-Time Payments a Reality

    Fulfilling the Promise: Making Real-Time Payments a Reality

    July 10, 2025
    mortgage

    The Rich Benefits of In-House Payment Systems

    July 9, 2025
    digital cards

    Beyond Plastic: Why Digital Cards Are the Future

    July 8, 2025
    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    July 7, 2025
    Rewire Acquires Imagen, Looking at Prepaid Cards for Migrant Workers

    Smells Like Team Spirit: What Makes Cobranded Credit Cards Work

    July 3, 2025
    uk banking outages

    New Continuous Strategies for Battling Account Takeovers

    July 2, 2025
    Fraud Monitoring

    What to Expect When Nacha’s Fraud Monitoring Rules Take Effect

    July 1, 2025
    payments

    Don’t Just React to What’s Next in Payments—Anticipate It

    June 30, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result