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Tuesday 15 October 2019

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Payments Awards 2019

Over half would use voice to pay for low value goods

Written by Peter Walker
24/07/19

Over half of consumers (57 per cent) would use voice-activated technology, such as Amazon’s Alexa, to pay for low-value goods and services.

This is according to research commissioned by Paysafe among more than 6,000 consumers across countries - including the US, UK and Canada - which found that one in ten (11 per cent) have used voice to confirm their identity when purchasing goods online.

Over half (53 per cent) of consumers believe that using voice-activated technology is quicker and more convenient than traditional payment methods, suggesting an increasing acceptance of voice-activated systems in consumers’ lives.

Nearly two thirds (62 per cent) said that a greater choice of verification methods - such as voice and fingerprint - make them feel more secure about making payments online, although most consumers (81 per cent) still feel most comfortable if a password is included in the process.

But while the acceptance of voice in payment scenarios is increasing, consumers are still in two minds about making larger purchases and the security of voice technology. For example, only 18 per cent would be happy to pay for a vacation or book flights using voice recognition.

From a security perspective, just over a third (37 per cent) trust that their financial information is secure when using voice activated technology and nearly half (45 per cent) said they don’t want companies having access to their personal biometric details.

Danny Chazonoff, chief operating officer at Paysafe Group, said that the age of voice has arrived with the advent of affordable and highly functional smart speakers in the home. “As consumers become more comfortable using voice to access services and control their home, it’s only a matter of time before ordering goods and making payments by voice enters the mainstream both via smart devices and mobile.

“Understandably with a nascent tech like voice activation, consumers are still apprehensive about security,” Chazonoff concluded. “Our research indicates that consumers are likely to start experimenting with low-value shopping and services, but this will inevitably change as people become more comfortable using voice.”


Retail Payments Survey

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