The Rise of the Voice Payments Ecosystem

Voice-enabled assistants are the newest buzz among consumers across industries with Google, Amazon, Apple, and other giants rolling out AI-infused gears functioning primarily through conversational voice interfaces. Globally, the number of customers using voice-assistants is increasing with a CAGR of 29.4% and is estimated to reach 1.83 billion by 2021. Alexa, Siri, and Google Assistant have all become an integral part of a millennial’s day. From setting up reminders, checking the weather, to shopping – these voice-enabled digital assistants have covered most of the bases heavily influencing the mobile-tech experience.

Financial services have been one of the biggest beneficiaries of such innovations around mobile tech and IoT. Clearly, voice-first devices are the next big frontier in the global financial services space. What initially started off as a means of engaging with the customers and answering their queries has expanded beyond me ...