A company in the UK launched a new system this week aimed at preventing online credit card fraud. The system known as VoicePay will allow customers to sign up for a unique voice recognition service which it is hoped will cut online fraud significantly.
As well as the usual checks such as passwords and pin numbers whenever a customer wishes to make an online purchase or transaction they will automatically be phoned to verify their identity.
This is one of many systems being released to help combat online fraud and the makers of VoicePay are said to be in talks with major banks and building societies. It is hoped that the system can be introduced to customers by the end of the year.
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