Financial services specialist Voice Commerce has launched a new suite of payment services, named Cashflows, which has been designed to aid businesses in managing their cash flow, and consolidating retail, online and mobile payment channels into a single Cashflows Business Account, writes Martin Conway.

The initial suite includes options for merchant accounting, m-commerce, e-invoicing and billing, and mobile e-money. The Cashflows Business Account also includes VoicePay, a security system which sets up a unique, pre-stored biometric ‘Voice Signature’ to verify and authorise financial transactions conducted via mobile. Voice Commerce claims that the adoption of Cashflows could yield competitive advantages for users, chiefly in providing their customers with a wider choice of payment methods.

“We have 4.7bn mobile phone-enabled customers already, but the majority of businesses have no way to access them,” says Voice Commerce CEO, Nick Ogden. “Cashflows marks the first time a payments acquirer has chosen to provide businesses with a consolidated payments service with integrated mobile capacity.” Ogden adds that he expects some 500m mobile customers to spend £20bn through mobile payments in the next four years, with consumers coming to “increasingly use their mobile phones as wallets for e-money transactions.”

Earlier this year, Voice Commerce became a principal member of both Visa EU and Mastercard, and the group claims to be one of only seven payment card acquirers in the UK and Ireland.