The Green Sheet Online Edition
February 2, 2025 • 25:02:01
Upgrade to advanced, seamless, secure, friendly payments
iWallet, a provider of digital payment solutions, unveiled its latest innovation: Voice AI for payment systems. This cutting-edge technology meets the growing demand for secure, seamless, and user-friendly payment experiences, addressing long-standing gaps in the industry, the company stated.
While voice technology is part of daily life for 81 percent of American consumers (according to TELUS), iWallet believes the payments sector has lagged in adopting modern, secure innovations.
Most payment systems still rely on outdated methods like interactive voice response (IVR) and dual-tone multi-frequency (DTMF) signals, which often fail to meet PCI compliance standards, the company pointed out, adding that iWallet is changing the game with its PCI-compliant, AI-driven telephone order system.
This groundbreaking technology eliminates manual DTMF input, offering smoother payment experiences while enhancing security and reducing fraud, iWallet stated. By utilizing voice recognition for payment processing, iWallet ensures that sensitive customer data is protected, building trust and safeguarding businesses from costly penalties, the company further noted.
Save time and money
"Adding the ability for businesses to use AI for payments saves them a lot of time and money," said Jim Kolchin, founder and CEO of iWallet. "Voice AI also improves customer satisfaction while maintaining PCI compliance, offering a leap forward from traditional automated systems."
iWallet pointed out that the demo showcases how Voice AI securely handles transactions while providing the flexibility of human-like interaction. To experience this innovation firsthand, call the demo line at 775-249-2553.
Beyond Voice AI, iWallet endeavors to continue transforming digital payments with innovations like its patented one-sided check deposit system and seamless integrations with Venmo, PayPal and Zelle. These advancements have streamlined payment workflows for thousands of businesses, further cementing iWallet’s position as a pioneer in the field, the company stated.
As a San Francisco-based startup, iWallet remains dedicated to revolutionizing payment solutions for businesses of all sizes. With Voice AI, the company stated, the future of payments is now.
Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.
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