 "How start-up SayPay is making online payments more secure")
Last week, I was booking a cab and realised I had no money in my payment wallet. After entering my bank account information, I was led to a portal where I had to enter a “one time password” that was sent to my email. When I opened the email application on my phone, the taxi hailing app decided to restart and took me back to its landing page. This happened multiple times.
In a world where I can have groceries, laundry, and transportation at my doorstep with the swipe of a finger, the one thing stopping me from living a life out of The Jetsons is that these conveniences require I go through an antiquated payment process.
With iOS8, Apple released Touch ID, a feature that can identify a user’s fingerprint. This was a giant step toward improving identification and authentification processes – but only for those who could afford an iPhone. For the rest of us, Bengaluru-based SayPay Technologies is revolutionising user recognition software by utilising the most basic capability of every phone: voice.
SayPay analyses sound, pattern, and rhythm in order to come up with a unique identity for each person. The start-up claims that your vocal identity is as unique as your fingerprint.
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SayPay and US-based VoiceVault ViGo partnered in May in order to bring VoiceVault’s technology to the payments world.
Launched in 2015, SayPay is still in its early stages. It is currently partnering with two banks but eventually hopes to integrate the solution with bill and e-commerce payments.
