VybePay initiates payments by voice

VibePay is a British FinTech behind a peer-to-peer payment service. A recent update to its iOS app allowed it to launch a new feature that allows users to initiate a payment via a simple voice command.

THE FACTS

• "Hey Siri, send Luke some money!". With this illustrative phrase, VibePay introduces its latest feature. It can be accessed from its updated iOS app with version 3.14.

• So VibePay customers using its service via this version of their app will now be able to pay or request to be paid from or to a UK bank account by simply asking their virtual assistant Siri.

• The service is offered free of charge. It relies on VibePay's Open Banking technologies (to allow funds to flow from account to account), and on Apple's virtual assistant.

• VibePay has signed partnerships with major UK banks to make its service interoperable.

CHALLENGES

• An idea from customers: VibePay says the launch of this new feature is a direct response to customer feedback. Customers have been asking for a tool to make payments even easier and faster. The use of voice was an obvious choice for VibePay, which then went into production of its voice functionality.

• Covering all markets: Beyond a service between individuals, VibePay is currently preparing an adaptation of its offer to the needs of professionals (content creators and online sellers in particular). It remains to be seen whether this voice functionality will be extended. The VibePay Pro offer should be available on the market later this year.

MARKET PERSPECTIVE

• VibePay can claim to be the first European player to make request to pay possible through voice. The initiative is indeed innovative in that it is suitable for consumer-to-consumer payments and payment initiation.

• Other voice-based payment services had already been deployed in certain contexts. In particular, it is perfectly suited to the in-car payment market.

• Apple already allowed payments to be made via Siri in 2013, proof of the ambitions of the web giant in this area and of its commitment to take part in the democratization of the use of voice in request to pay transactions.