Barclays combines Disruptive Technologies with Cashless Consumption for voice payments

Barclays combines Disruptive Technologies with Cashless Consumption for voice payments

Several quarters ago we shared our view that after capacitive touch, voice would be the next interface to watch. We’ve seen adoption growth in smartphones with Apple (AAPL) and Siri, Microsoft (MSFT) and Cortana, and then in intelligent speakers like Amazon’s (AMZN) Alexa powered Echo products. We’ve even read about licensing deals between Amazon and appliance as well as auto manufacturers for the Alexa technology. Now Barclays (BCS) is combining this Disruptive Technology with our Cashless Consumption theme to enable voice payments.

If you have a Barclays bank account, you can now make payments simply by instructing Siri to do it.

The feature, added to the latest version of the company’s iOS app, uses the Siri integration for payment apps Apple introduced with iOS 10.

PayPal took advantage of this last November, but banks have been slow to do so …NordVPNMaking a payment is as simple as ‘Hey Siri, pay John Appleseed $10 with Barclays.’

As with PayPal, the exact wording shouldn’t be important so long as you specify the person, the amount and Barclays.

To prevent someone picking up your unlocked phone and asking Siri to make a payment to them, Barclays says several protections are in place. First, you need to opt-in to the feature.

Source: Barclays bank now lets customers make payments via Siri | 9to5Mac

About the Author

Chris Versace, Chief Investment Officer
I'm the Chief Investment Officer of Tematica Research and editor of Tematica Investing newsletter. All of that capitalizes on my near 20 years in the investment industry, nearly all of it breaking down industries and recommending stocks. In that time, I've been ranked an All Star Analyst by Zacks Investment Research and my efforts in analyzing industries, companies and equities have been recognized by both Institutional Investor and Thomson Reuters’ StarMine Monitor. In my travels, I've covered cyclicals, tech and more, which gives me a different vantage point, one that uses not only an ecosystem or food chain perspective, but one that also examines demographics, economics, psychographics and more when formulating my investment views. The question I most often get is "Are you related to…."

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