IVR Payment processing with
Guide to accepting IVR Payments
WHAT IS AN IVR PAYMENT?
IVR stands for Interactive Voice Response, which is used in the payment industry to accept automated telephone transactions. IVR credit card transactions are most commonly used to pay invoices over the phone; examples of this are paying parking fines, paying for services such as medical care, or paying bills such as rent and utilities.
WHY USE IVR PAYMENTS
In a world where the internet is accessible to the majority, it is important to remember that not all customers have access to, or are able to use, computers and smart phones. Using IVR to accept payments over the phone, means that your business can offer clients who don’t use the internet an alternative payment solution.
HOW DOES IVR WORK?
IVR is a dedicated payments phone line, which works 24/7 365 days a year. The beauty of this automated service is that it doesn’t require an employee to enable it to work, freeing up staff for other duties.
Voice Connect’s IVR system works using a separate payments phone line; this can be a new number or if you have an existing payments number, it can be ported to the system. Clients then call this number and enter a reference code, to confirm the amount due. They will then key in their card details on the telephone keypad, to finalise payment. No card details are stored by Voice Connect or received by the company accepting the IVR payment, making these transactions simple, safe and secure.
WHO WE WORK WITH
WHO WE INTEGRATE WITH
WHO WE PARTNER
WHO WE INTEGRATE WITH
PCI-DSS COMPLIANCE AND IVR PAYMENTS
PCI-DSS is a payment industry standard, to ensure the safety of your customers’ card details. Remaining complaint is your responsibility as a business. We take PCI-DSS compliance very seriously. Our systems do not record or retain any card details, helping you to achieve the highest level of PCI-DSS compliance possible.
WHAT DO I NEED TO ACCEPT IVR PAYMENTS?
To accept IVR payments you will need a merchant account; we can help you obtain one using one of our partnering companies. The merchant account authorises payments coming from your customer’s personal bank account to your business account; it will also release funds between the two. Voice Connect work closely with merchant account providers in the UK to bring you competitive rates when it comes to processing costs.
HOW MUCH DOES IVR PROCESSING COST?
IVR credit card processing is a cost effective way of processing payments, freeing up staff time, whilst ensuring improved cash flow, by enabling clients to pay at anytime from anywhere. Pricing varies dependent upon your business needs, but there will be a set-up cost for integration and prompt recording, a monthly service charge, and a charge per transaction for each payment.
BENEFITS OF ACCEPTING IVR PAYMENTS
Advantages of accepting IVR transactions include;
- The ability to accept payments 24/7
- Payment options that do not require internet access
- Safe and secure processing – card details are not recorded or retained
- Easy reporting and integration to back end systems and CRM