Use Case - Mobile Payments

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Voice Biometrics Conference London 2008 ' 2008 Opus Research, Inc. 20 November 10:45 a.m. 11:30 a.m. Use Case: Mobile Payments Speaker: ! Nick Ogden, Chairman and Chief Executive, Voice Commerce Group

Transcript of Use Case - Mobile Payments

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Voice Biometrics Conference London 2008© 2008 Opus Research, Inc.

20 November � 10:45 a.m. � 11:30 a.m.

Use Case: Mobile Payments

Speaker:

! Nick Ogden, Chairman and Chief Executive, Voice Commerce Group

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Voice Signatures Their role in Mobile Payments

Patents and Trademarks Pending

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

�Background

�What are Voice Signatures?

�Compliance and Regulation

�Voice Signatures in Action

�Demonstrations and Evaluation Environments

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Voice Commerce Group

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

50 Country Operational Mobile Payment Network

Americas - 12 Countries�Brazil, Canada, Chile, Columbia, Costa Rica, Dominican Rep, Guyana, Mexico, Netherlands Antilles, Nicaragua, Uruguay, USA

Asia � 10 Countries�Australia, China, Hong Kong, Indonesia, Japan, Malaysia, New Zealand, Philippines, South Korea, Thailand

Europe � 26 Countries�Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Guyana, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Russia, Slovakia, Spain, Sweden, Switzerland, UK

Rest of World � 2 Countries�Israel, South Africa

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Partners and Customers

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

What are Voice Signatures?

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The evolution of signatures in Financial Services

1975 200820051980

Cheques

Credit cards

Any and everyTransactionType

Cash2015

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Security �versus� Business Opportunity

Securitytransformed

through multi factor

authentication and audit trails

UsageAnywhere

accessibility as voice is truly

mobile

No �all� market solution

Users confused with different security and authenticationsolutions for various services

Easy to deploy for any services whilst improving and simplifying security

Voice Signatures

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Voice Signatures use Biometrics

Cost of Ownership Lower Higher Higher HigherEquipment at Access Point No Yes Yes Yes

Remote Identification Possible Yes No No No

Secure Yes Yes Yes YesPhysically Intrusive No Yes Very Very

Possible to Lose or Forget No No No No

Voice Signatures are complex, patent pending, devices that combine the use of voice biometrics with transactional history, trends and patterns to

create a highly secure, unique, authorisation environment

Source: Datamonitor, 2000

Voice Signatures are however not just Voice Biometrics

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

00.5

11.5

22.5

33.5

44.5

2007 (Billions)

Internet Users

Mobile PhoneUsers

User base and distribution already in place

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Usage Today?

Somewhere between 25- 30 Billion

transactions will occur today

So how many have you made?

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Compliance, Regulation and Performance

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Compliance

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Regulation

� Regulated

� Building a position of Industry best practice

� Fully secure and externally audited Datacentre� Highest level of Industry certification available (PCI Level1) � Voice Signatures are encrypted (256 RC4 strong encryption)

� Service availabilities and responsibilities

� Hosted � VCG act as Trusted Third Party� Local storage � only available to Regulated Financial Intuitions

using our Voice Management Hub capabilities� Network management by VCG � guaranteed global

interoperability

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Performance

� 99.6% First time authorisations

� Non repudiation

� Automated re-validation

� Not based on False accepts, False rejects or Equal Error rates � it must deliver immediate operational standards - out of the box.

� Network connection to us 50+ countries

� Local installation using Voice Management Hubs

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Voice Signatures in Action

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

IVRPlatform

Account DBUser DB

PSTN Network in50+ countries

Businesses

How Voice Signatures work

Secure Private

Networks

AuthServer

VoiceBiometrics

Module

Banks

Online WalletCredit Card

M-Commerce

Payment ProcessingP2P PaymentsM-Commerce

ISO 8583Transaction Authorization

Identity ConfirmationCardless Transactions

VoIP

Financial Gateways

Voice SignatureStorage

Inbound / Outbound

Internet

Global Networks

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

� Capabilities� Global Transaction Processing - IPSP � A fully outsourced service or account management

basis� Card Issuing Solutions

� Delivering� Compliance with Card Schemes and Regulators� Escrow Payment Management � Multi Lingual Processing � Multi Currency Processing and Settlement

� Mobile Commerce� Operational Immediately� Revenue Generative� No Third Party relationships required

Electronic Payment Processing

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Unique Product IDs displayed in merchant advertising on TV, any Printed medium,

Outdoor Advertising and the Internet

Consumer calls Voice Transact operated

freephone line available in 50+ Countries

PSTN Network

IVRPlatform

Account DBUser DB

AuthServer

VoiceManagement Server (Hub)

Voice SignatureStorage

Secure Network

(ISO)

1. Shopping 2. Purchasing 3. Voice Signature 4. Delivery

Goods dispatched using pre stored customers

address

Mobile CommerceVoice Pay Mobile or Co-Branded Service

Secure Call Back

Where Transactions are Pre-Authorised customer pay on

delivery using Voice Pay and receive a unique transaction

confirmation which can be passed to the courier to prove payment

has occurred.

Voice Transact authenticates consumer, confirms purchase and processes payment/debits

account or Pre Auth (5) created

5. Pre Auths

Businesses Banks

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

PSTN Network

Financial Network Gateway

Enters phone number of account holder #2 and amount to transfer

Account holder #1 calls freephone number and voice signature is authenticated.

Voice Transact checks balance available and makes transfer to #2.

Gives confirmation code to #1. SMS sent to #2.

Account holder #2 calls Voice Pay, is authenticated and is asked to

confirm receipt of funds. Confirmation code is given.

Consumer ServicePerson to Person Payments (P2P) with Escrow options

PSTN Network

1. 3.2.

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

PSTN Network

POS terminal sends number, amount,

description etc. to bank

Consumer enters mobile phone number into POS terminal to authorize transaction

Bank requests Voice Transact to verify customer�s

identityVoice Transact calls consumer to authenticatevoice signature

Standard transaction confirmation sent to

POS terminal.

1. Retail Location

Retail SolutionsVoice Signature Interactive Point of Sale

2. 3.

Banks

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Banks Cardless ATM Transactions

PSTN Network

Bank requests Voice Transact to verify customer�s identity

Customer initiates cardless transaction at ATM

Voice Transact sends result of signature verification to bank

Voice Transact makes outbound call to customer and verifies voice against stored voiceprint

Financial Network Gateway

1. ATM 2. Bank 3. 4.

Banks

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

BanksPhone Banking

PSTN Network

InternetInbound / Outbound

Call passed live by PBX to Voice Transact for customer verification

Customer initiates transaction via phone banking or call centre

Voice Transact sends result of signature verification to Bank

Voice Transact verifies voice against stored voice signature

Financial Network Gateway

1. 2. Bank Call Centre 3.

Banks

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

BanksInternet Banking

PSTN Network

Internet

Customer initiates transaction via internet

banking

Voice Transact sends result of speaker

verification to bank

Bank sends secure request to Voice Transact with

customer details

1.Bank Customer 2. 3.

Consumer authenticatedand transaction processed

Banks

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

IVRPlatform

Account DBUser DB

PSTN Network in50+ countries

Authentication Re-validation

AuthServer

VoiceBiometrics

Module

Voice SignatureStorage

Inbound / Outbound

Global Networks

Inbound / Outbound

1. Inbound or Outbound - Voice Signature rules mismatch

2. Voice Transact automated secure �Call back� for re-validation

PSTN Network in50+ countries

Voice Transact generates automated secure call backs to the customer if any authentication result requires extra validation

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Case Study: BanksBanking the Non-Banked

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

BanksForeign Worker Remittances - Languages

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

BanksForeign Worker Remittances

PSTN Network

Company sends payroll data to bank

Voice Transact sends details of remittance transaction to bank

Workers calls Bank using Voice Pay and follow IVR menu to perform remittance. Transaction is created and voice signed

Financial Network Gateway

Voice Transact creates and maintains accounts

for workers

Bank performs bulk transfer of consolidated transactions to partner banks in destination

countries

1. 2. 3. Bank.

Banks

4. Withdraw

Option for VCG to Issue pre paid cards to enable the customer to

withdraw salary

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

Demonstrations and Evaluation Environments

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

� Initial Process� Access after execution of NDA� Voice Transact Server is restricted to Registered and Regulated Financial

Services Organisations� Provides pilot and evaluation environment for 50+ Countries� Immediate M-Commerce Deployment

� Post Evaluation Exercise � Licensed Pilot Program� Technical Integration and Certification � Market testing and awareness activities

� Voice Management Hub� Standalone Servers � Regulatory, Compliance requirements� Off current Voice Transact Network

Evaluation Program

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®

BENEFITS�Rapid deployment, low cost, single solution �Revenue Generative quickly � M-Commerce �Consumer Payment Transactions are Guaranteed

COSTS�No Cost Evaluation Program and Low Cost Pilot Program�Monthly Network Service Connection Charge�Variable Transactional and Authorisation Charges

STANDARDS�Guaranteed Interoperability with future proofed expansion�Multi lingual and Multi currency�Fully Compliant with systems available to meet regulatory or compliance requirements

DEPLOYMENT�Contract, Alliance or Joint Venture�Co-Branded or White Labelled but always �powered by��Sales and integration support from Nuance

Voice Signatures - Conclusion

00.5

11.5

22.5

33.5

44.5

2007 (Billions)

Internet Users

Mobile PhoneUsers

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© Voice Commerce Group Limited - VoicePay is a registered trademark ®