How Do IVR Payments Work?

Posted by Jacob Allen on April 2nd, 2021

Well, we all know a little about IVR i.e Interactive Voice Response technology. This technology has been in use since ages and if you have booked a ticket at the box office on phone giving all the personal details, this was the kind of IVR technology you came across in life. IVR technologies have improved from just booking movie tickets. Today, customers are using IVR to make payments for bills, fees and contributions all over the telephone by interacting with an automate system at the other side. If you want to know how any IVR payment processing solutions will work, check out the following:

1. When you need to ask payments from your customers, you can direct them to the 24*7 live IVR payment line. This can be done in multiple ways. You either do it on your own or you can ask the customer to call to a specific number of clear the dues.
2. When the customer calls the number, he or she is greeted by a series of prompts.
3. Customers enter their payment reference number, which can either be an invoice, a policy or an account etc.
4. To further improve the service, you can introduce a look-up that will interact with your business database while the customer is giving the information. This will help you validate the information given by the customer. This way the system will come to know the account balance of the customer and the amount the system needs to process.
5. When the customer is ready to pay, the system will ask the customer to enter their credit card details, which is authorized in real -time by connecting directly to the credit card processor.
6. The customer will receive the verbal confirmation of the payment on the phone. The customer can also choose to receive a text message to their phone number for confirmation.
7. The transaction will also show up on the merchant account on-line portal in real-time.
8. This will be again integrated with your accounting and billing systems and the payments transactions can be posted directly to your business.
   

The IVR payment services are categorized into two segments – self assisted and agent assisted. Let us explain these two in the following section:

IVR Payments self-assisted

In this case, the customers call into your Company’s existing phone number and select the options for your payment front end phone menu. The phone system will automatically transfer the call to the Cloud based IVR payment system, which is branded configured to the specifications. The customers can make the payment with the help of credit card, in a PCI compliant environment with transactions being posted in real-time to your credit card processor.

IVR Payments- Agent Assisted

This happens when the customer service agent is talking to the customer and the customer service agent can transfer the call of the customer to the IVR payments platform. Your agent can then exit the call, ensuring that the credit card details information is removed from the hands of the live agent. This leaves your customer confident that their information is safe.

IVR payment processing in solutions in UK deliver plenty of benefits to all business alike. If you want to know more about IVR credit card processing, come to us.

Jacob Allen is the author of this article. For more information about ivr payment processing solutions, ivr credit card processing please visit the website.