Ever felt uneasy about sharing your banking details over the phone? Phone payments often seem insecure, raising concerns about who’s charging you, data safety, and payment accuracy. Although security measures like PCI DSS protect against fraud, they can be costly for businesses. Enter IVR (Interactive Voice Response)—a more secure, automated solution.
In this blog, we explore how IVR technology is revolutionizing phone payments, offering greater flexibility and convenience. Interested in learning more about IVR technology? Keep reading!
What is IVR and Its Features
IVR (Interactive Voice Response) is a system that enables secure, automated card transactions via phone calls without human intervention.
Key Features of IVR:
- Secure Phone Payments: Complies with PCI-DSS Level 1, ensuring secure transactions for both incoming and outgoing calls.
- Voice Personalization: Customizable scripts for businesses or call centers, including industry-specific language and multi-language support.
- 24/7 Availability: Operates round the clock, automating SMS or email confirmations for transactions.
How IVR Works:
Whether initiated by the company or the customer, users enter card details via phone keypad (DTMF) or automatic speech recognition (ASR). Data is securely sent to the bank for authorization without storage. Once approved, the transaction is completed.
Examples:
- QR Code or Pay by Link: The customer chooses IVR as the payment method and is guided by a voice robot.
- Public Institutions: In Madrid, fines and taxes can be paid by phone.
Benefits of IVR:
- Privacy and Security: Reduces fraud and card theft risks.
- Automation: Minimizes need for manual intervention.
- Cost Savings: Lowers operational costs.
- Always Available: Provides constant access for payments and customer support.
- Enhanced Customer Experience: Improves convenience and accessibility.
Try IVR with Wannme
IVR is versatile, fitting various sectors like e-commerce, travel agencies, insurance, and NGOs. With Wannme, integrating IVR is simple:
- Enter customer details into our payment platform.
- Choose “Request IVR Payments,” and the call is made instantly.
For cutting-edge phone payment technology, integrate Wannme. Optimize your collections with flexibility and control, all with Wannme. Contact us.
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