The payments industry is undergoing a transformation driven by artificial intelligence. iWallet is the first company to launch a voice AI payment system, which marks the formal transition of payment methods from traditional button operations and voice response systems (IVR) to a more intelligent and convenient voice interaction era. This innovation not only improves user experience, but more importantly, while ensuring Payment Card Industry (PCI) compliance, it effectively reduces error rates and fraud risks in the payment process, saving companies a lot of operating costs.
In another major innovation in the field of digital payments, payment solution provider iWallet takes the lead in launching a voice AI payment system. The launch of this breakthrough technology marks that the payment industry has officially entered the era of intelligent voice interaction.
The current payment industry still commonly uses traditional technologies such as Interactive Voice Response (IVR) and Dual Tone Multi-frequency (DTMF), which not only provide poor user experience, but also face challenges in Payment Card Industry (PCI) compliance. In response to this pain point, the voice AI system developed by iWallet not only ensures PCI compliance, but also effectively reduces error rates and fraud risks by reducing manual operations.
iWallet founder and CEO Jim Kolchin said that the introduction of AI payment technology not only saves enterprises a lot of operating costs, but more importantly, while ensuring PCI compliance, it significantly improves the user experience and realizes the transformation of traditional automation. A major breakthrough in payment systems.
Data shows that voice payment is gradually being accepted by more consumers. According to the "Global Digital Trends" report released by PYMNTS, 17.9% of the population currently uses voice technology for shopping at least once a week. Christian Mentz, chief revenue officer of Cerence, pointed out that thanks to the latest AI model’s advancements in context understanding and natural language processing, voice payment has evolved from simple information interaction to a more intelligent service experience.
What is even more noteworthy is that the latest research shows that AI systems already have the ability to control computer interfaces through natural interactions. As Clarity AI CEO Joan Palmiter Bajorek said, this technology will revolutionize the way humans interact with software.
With the continuous advancement of AI technology, the innovative model of voice payment is expected to bring a safer and more convenient payment experience to consumers in the future, pushing the payment industry to a new stage of more intelligent development.
The launch of the iWallet voice AI payment system heralds that future payment methods will be more intelligent and humane, bringing users a safer, more convenient and efficient payment experience. This technology not only improves user experience, but also brings new development opportunities to the payment industry and promotes the development of the entire industry in a more intelligent direction. In the future, we can expect more AI-based payment innovations to emerge.