Phone Sales: What It Is and How to Add New Payment Methods
Phone sales remain an effective tool for reaching potential customers, building trust with existing ones, and increasing revenue for your business. However, with the rise of online sales and social media, businesses are adopting new marketing and sales strategies centered around other channels to adapt to changing consumer preferences.
While phone sales still have their place in the business world, adapting to new trends may be necessary for continued effectiveness. Offering multiple payment methods makes phone sales more attractive by facilitating customer purchases.
Discover which payment methods you can offer to boost phone sales for your business.
What Are Phone Sales?
Phone sales go beyond “telemarketing,” where a salesperson calls a customer to promote and sell products like a massage chair or “Blue Fantasy” necklace. Phone sales are a common practice in various sectors—insurance, telecommunications, subscriptions, debt collection, etc. It can also be a way to reach a less digital audience that prefers to make payments over the phone.
Payment Methods for Phone Sales
The key to phone sales is processing the payment during the same phone call.
Phone payments are commonly used for subscription services, online purchases, and bill payments, among others.
In addition to traditional methods, new technologies have created more automated and secure payment methods.
- MOTO (Mail Order/Telephone Order)
MOTO payments allow card payments to be made remotely via email or phone, anytime and anywhere. Here’s how MOTO works: the customer receives a payment notification, provides their banking details to the company, indirectly consenting to the charge, and the company manually processes the payment. This method is considered less secure due to the handling of sensitive information.
MOTO payments are common in businesses without a physical presence that process payments remotely, such as restaurants offering delivery, online retailers, travel agencies, hotels, etc.
- IVR (Interactive Voice Response)
IVR is an automated voice response system that enables customers to interact with a robot via phone. IVR payments allow customers to make payments over the phone by following a voice menu. Customers enter their card details and confirm the transaction using their phone’s keypad. This method is convenient and secure, as customers do not share their banking details with anyone and the payment is processed online.
IVR payments are used in call centers, reservation agencies, telemarketing, debt collection, and other automated payment services.
- Bizum Request to Pay
Bizum Request to Pay is a feature within the Bizum app that allows users and businesses to request payments from other Bizum users easily and securely. When requesting a specific amount, the recipient receives a notification on their mobile, which they can accept or decline from their banking app. This method is fast, secure, and straightforward.
For example, if your business is involved in debt collection or operates a call center, phone payments are ideal. Your agents can call a customer with overdue payments, and the customer can immediately agree to pay. At that moment, phone payment options like MOTO, IVR, or Bizum Request to Pay are available. The customer transfers funds quickly, securely, and almost automatically.
Why Is It Important to Offer Multiple Payment Methods in Your Phone Sales?
Offering various payment options in phone sales has several benefits:
- Speed: Phone payments can enhance efficiency by allowing customers to pay quickly and easily. Payments are completed within minutes.
- Convenience: Customers can pay anytime and anywhere, as long as they have a phone.
- Reach: Phone payments are suitable for reaching a more mature and less digital audience, who are more familiar with mobile phones than computers and online shopping, or for those without internet access or near a physical point of sale.
- Security: Phone payments are protected by additional security measures, such as passwords or Bizum’s two-factor authentication, reducing fraud risk.
- Optimization: IVR payments automate the payment process, saving time and resources for both customers and businesses.
- Accessibility: It is the most suitable option for people with disabilities, as it does not require a screen or keyboard to complete the payment.
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