iWallet, a pioneer in digital payment solutions, has launched Voice AI, a groundbreaking innovation designed to transform payment experiences with advanced security and convenience.
The move comes in response to the growing demand for modern, user-friendly payment methods that are both secure and efficient.
Voice technology is increasingly integrated into daily life, with 81% of American consumers using it regularly, yet the payments sector has lagged in adopting these advancements.
Founded to provide cutting-edge digital payment solutions, iWallet focuses on addressing inefficiencies in traditional payment systems. The company is committed to integrating innovative technologies that enhance security and improve user experiences.
The new Voice AI product replaces outdated systems like IVR (Interactive Voice Response) and DTMF (Dual Tone Multi-Frequency) signals, which often fail to meet PCI compliance standards.
This AI-based telephone order system offers enhanced security, reduces fraud risks, and eliminates the errors commonly associated with manual input, ensuring businesses can securely process payments while protecting sensitive customer data.
The technology enables businesses to process payments over the phone using voice recognition instead of manual signal entry. This not only speeds up transactions but also ensures compliance with stringent PCI standards, a critical factor in maintaining customer trust and avoiding penalties.
In addition to its security benefits, Voice AI streamlines operations by saving time and money for businesses. It also improves customer satisfaction by offering a more intuitive and seamless experience compared to traditional automated systems.
“Adding the ability for businesses to use AI for payments saves them a lot of time and money,” iWallet Founder and CEO Jim Kolchin said. “iWallet Voice AI also improves customer satisfaction and keeps the phone calls PCI-compliant and is a leap forward from the traditional automated systems.”
Keep up with all the latest FinTech news here.
Copyright © 2025 FinTech Global
