Under NXT-ID’s new system, payment accounts stored on a mobile wallet or device can be selected via voice recognition and the payment account only be accessed if both the speech (the word associated with the payment account) and the speaker (a biometric) are both recognized.
Payment is then directed to an appropriate interface, such as Magnetic Stripe Emulation (MSE), Near Field Communication (NFC), or other interface to perform the payment with the selected account.
The patent also introduces the concept of ‘voice cards’, which are alias names given by a user to describe specific private information such as credit and debit cards, and the authentication can be shared securely by two devices.
NXT-ID’s Wocket works on existing payment terminals. The device is the size of a small calculator and can store data on up to 10,000 debit, credit and loyalty cards. Wocket can also communicate with phones or tablets using an app.
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