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ARTICLE

THE RISE OF

VOICE-BASED

PAYMENT

SYSTEMS: A

CONVENIENT AND

SECURE FUTURE

Introduction The Emergence of Voice-Based Payment
In recent years, technological advancements have Systems
significantly transformed the way we interact with financial
Voice-based payment systems have gained momentum due
services. Among these innovations, voice-based payment
to the rapid proliferation of voice-activated devices such as
systems have emerged as a promising and convenient means
smart speakers, smartphones, and wearable devices. Market
of conducting transactions. By leveraging the power of
leaders like Amazon's Alexa, Apple's Siri, Google Assistant,
artificial intelligence (AI) and natural language processing and others have integrated payment functionalities into
(NLP), these systems allow users to make payments using
their voice assistants, making it easier for users to initiate
voice commands, eliminating the need for physical cash or
payments by simply speaking their commands.
even traditional digital payment methods. This article
explores the growing popularity of voice-based payment
systems, their benefits, security considerations, and their How do Voice Payments Work?
potential to revolutionize the future of commerce. A voice-based payment involves interacting with an AI-
powered device, like a speaker or smartphone, by speaking
to it and instructing it to carry out a transaction.
About the author Subsequently, the device identifies and comprehends the
spoken request, takes action accordingly, and responds by
Anish Shrimali confirming the transaction.
Senior Manager
Union Bank of India, Union Learning The concept of voice payments emerges from progress
Academy - Digital Transformation, Powai achieved in artificial intelligence (AI) and machine learning

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