Consumers Mostly Okay With Voice Activation Tech Becoming Part Of The Payment Process

In a sign that the smart speaker and digital assistant category of products is likely here to stay and to become more ubiquitous in day-to-day life, a survey by payment solutions provider Paysafe has found that 57 percent of consumers would use voice-activated technology, such as Amazon’s Alexa, to pay for low-value goods and services. The research also found that 11 percent have used voice to confirm their identity when purchasing goods online.

“The age of voice has well and truly arrived with the advent of affordable and highly functional smart speakers in the home,” says Danny Chazonoff, chief operating officer of Paysafe Group. “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.”

Paysafe also found that 53 percent of consumers believe that using voice-activated technology is quicker and more convenient than traditional payment methods, which the company suggests is a sign of increasing acceptance of voice-activated systems in consumers’ lives. Also, 62 percent further said that a greater choice of verification methods, such as voice and fingerprint, makes them feel more secure about making payments online, although 81 percent still feel most comfortable if a password is included in the process.

While the company’s data shows that acceptance of voice in payment scenarios is increasing, Paysafe cautions that consumers are still of two minds about making larger purchases and the security of voice technology. For example, only 18 percent would be happy to pay for a vacation or book flights using voice recognition. From a security perspective, just 37 percent trust that their financial information is secure when using voice-activated technology and 45 percent said they don’t want companies having access to their personal biometric details.

Chazonoff adds, “Understandably with a nascent tech like voice activation, consumers are still apprehensive about security. 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. Once a user base is established, it can take a couple of years before we see a rapid increase in usage.”