Voice Commerce, the innovative financial services group, today announced the launch of CashFlows®, its consolidated suite of payment services for businesses. CashFlows® is uniquely positioned as one of only seven payment card acquirers in the UK and Ireland and the only card acquirer independent from traditional banks following Voice Commerce becoming Principal Members of both Visa EU and MasterCard earlier this year. The launch of CashFlows® reflects the Group's expansion from the provision of payments processing to meeting the broader financial requirements of its growing business customer base offering a complete range of services to businesses, and is the first to provide an integrated mobile payment capability.
CashFlows® is designed to help businesses manage and maximise their cash flow, the lifeblood to any successful company, by bringing together multiple payment channels, including retail, online and mobile, and delivering it from a single CashFlows® Business Account. The initial suite of services, which includes merchant accounting, m-commerce, e-invoicing & billing and mobile e-money, enables businesses to accept any type of payment and tap into the fast growing mobile market to provide a superior service to their customer base and achieve greater competitive advantage. The CashFlows® Business Account includes VoicePay®, a payment system which permits the verification and authorisation of financial transactions via mobile phone using a unique pre-stored biometric Voice Signature™.
Commenting on the launch of CashFlows®, Nick Ogden, CEO of Voice Commerce Group, said:
In today's fast moving and increasingly mobile environment, businesses need to be able to offer their customers a choice of payment methods. With 70% of the global population owning a mobile phone, the m-commerce market is rapidly growing and in the coming years we expect to see it outpace e-commerce.
We have 4.7 billion mobile phone enabled customers already in existence but as it stands the majority of businesses have no way to access them. CashFlows® marks the first time a Payments Acquirer has chosen to provide businesses with a consolidated payments service with integrated mobile capability. Through our work with mobile operators we anticipate 500 million mobile consumers to spend £20 billion through mobile payments in four years. Being able to tap into this rapidly growing channel is therefore crucial to maximising businesses profitability and sales potential, which is now achievable through CashFlows®.
In addition, as consumers begin to increasingly use their mobile phones as wallets for e-money transactions, we believe that security will become a significant concern. CashFlows® uses VoicePay® which guarantees all payments, providing consumer confidence in the mobile marketplace and encouragement for businesses to embrace these substantial sales opportunities.